08 HB
1211/AP
House
Bill 1211 (AS PASSED HOUSE AND SENATE)
By:
Representatives Royal of the
171st,
Roberts of the
154th,
Keen of the
179th,
Porter of the
143rd,
Cole of the
125th,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Title 48 of the Official Code of Georgia Annotated, relating to revenue
and taxation, so as to provide for the special assessment of forest land
conservation use property; to provide for a short title; to change certain
definitions regarding ad valorem taxation; to provide for valuation tables; to
provide for procedures, conditions, and limitations; to provide for powers,
duties, and authority of county tax commissioners and the state revenue
commissioner with respect to the foregoing; to provide for local government
assistance grants; to provide for related matters; to provide for a contingent
effective date and applicability; to provide for automatic repeal under certain
circumstances; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Title
48 of the Official Code of Georgia Annotated, relating to revenue and taxation,
is amended in Code Section 48-5-2, relating to definitions regarding ad valorem
taxation of property, by adding new paragraphs to read as follows:
"(5)
'Forest land conservation value' of forest land conservation use property means
the amount determined in accordance with the specifications and criteria
provided for in Code Section 48-5-271 and Article VII, Section I, Paragraph
III(f) of the Constitution.
(6)
'Forest land fair market value' means the 2008 fair market value of the forest
land. Such 2008 valuation may increase from one taxable year to the next by a
rate equal to the percentage change in the price index for gross output of state
and local government from the prior year to the current year as defined by the
National Income and Product Accounts and determined by the United States Bureau
of Economic Analysis and indicated by the Price Index for Government Consumption
Expenditures and General Government Gross Output (Table
3.10.4)."
SECTION
2.
Said
title is further amended by adding a new Code section to read as
follows:
"48-5-7.7.
(a)
This Code section shall be known and may be cited as the 'Georgia Forest Land
Protection Act of 2008.'
(b)
As used in this Code section, the term:
(1)
'Forest land conservation use property' means forest land each tract of which
consists of more than 200 acres of tangible real property of an owner subject to
the following qualifications:
(A)
Such property must be owned by an individual or individuals or by any entity
registered to do business in this state;
(B)
Such property excludes the entire value of any residence located on the
property;
(C)
Such property has as its primary use the good faith subsistence or commercial
production of trees, timber, or other wood and wood fiber products from or on
the land. Such property may, in addition, have one or more of the following
secondary uses:
(i)
The promotion, preservation, or management of wildlife habitat;
(ii)
Carbon sequestration in accordance with the Georgia Carbon Sequestration
Registry;
(iii)
Mitigation and conservation banking that results in restoration or conservation
of wetlands and other natural resources; or
(iv)
The production and maintenance of ecosystem products and services such as, but
not limited to, clean air and water.
'Forest
land conservation use property' may include, but not be limited to, land that
has been certified as environmentally sensitive property by the Department of
Natural Resources or which is managed in accordance with a recognized
sustainable forestry certification program such as the Sustainable Forestry
Initiative, Forest Stewardship Council, American Tree Farm Program, or an
equivalent sustainable forestry certification program approved by the Georgia
Forestry Commission.
(2)
'Qualified owner' means any individual or individuals or any entity registered
to do business in this state.
(3)
'Qualified property' means forest land conservation use property as defined in
this subsection.
(4)
'Qualifying purpose' means a use that meets the qualifications of subparagraph
(C) of paragraph (1) of this subsection.
(c)
The following additional rules shall apply to the qualification of forest land
conservation use property for conservation use assessment:
(1)
All contiguous forest land conservation use property of an owner within a county
for which forest land conservation use assessment is sought under this Code
section shall be in a single covenant;
(2)
When one-half or more of the area of a single tract of real property is used for
the qualifying purpose, then the entirety of such tract shall be considered as
used for such qualifying purpose unless some other type of business is being
operated on the portion of the tract that is not being used for a qualifying
purpose; provided, however, that such other portion must be minimally managed so
that it does not contribute significantly to erosion or other environmental or
conservation problems or must be used for one or more secondary purposes
specified in subparagraph (b)(1)(2) of this Code section. The lease of hunting
rights or the use of the property for hunting purposes shall not constitute
another type of business. The charging of admission for use of the property for
fishing purposes shall not constitute another type of business. The production
of pine straw shall not constitute another type of business; and
(3)
No otherwise qualified forest land conservation use property shall be denied
conservation use assessment on the grounds that no soil map is available for the
county in which such property is located; provided, however, that if no soil map
is available for the county in which such property is located, the board of tax
assessors shall use the current soil classification applicable to such
property.
(d)
No property shall qualify for conservation use assessment under this Code
section unless and until the qualified owner of such property agrees by covenant
with the appropriate taxing authority to maintain the eligible property in
forest land conservation use for a period of 15 years beginning on the first day
of January of the year in which such property qualifies for such conservation
use assessment and ending on the last day of December of the final year of the
covenant period. After the qualified owner has applied for and has been allowed
conservation use assessment provided for in this Code section, it shall not be
necessary to make application thereafter for any year in which the covenant
period is in effect and conservation use assessment shall continue to be allowed
such qualified owner as specified in this Code section. At least 60 days prior
to the expiration date of the covenant, the county board of tax assessors shall
send by first-class mail written notification of such impending expiration.
Upon the expiration of any covenant period, the property shall not qualify for
further conservation use assessment under this Code section unless and until the
qualified owner of the property has entered into a renewal covenant for an
additional period of 15 years; provided, however, that the qualified owner may
enter into a renewal contract in the fourteenth year of a covenant period so
that the contract is continued without a lapse for an additional 15
years.
(e)
Subject to the limitations of paragraph (1) of subsection (c) of this Code
section, a qualified owner shall be authorized to enter into more than one
covenant under this Code section for forest land conservation use property. Any
such qualified property may include a tract or tracts of land which are located
in more than one county in which event the owner shall enter into a covenant
with each county.
(f)
A qualified owner shall not be authorized to make application for and receive
conservation use assessment under this Code section for any property which at
the time of such application is receiving preferential assessment under Code
Section 48-5-7.1 or current use assessment under Code Section 48-7-7.4;
provided, however, that if any property is subject to a covenant under either of
those Code sections, it may be changed from such covenant and placed under a
covenant under this Code section if it is otherwise qualified. Any such change
shall terminate the existing covenant and shall not constitute a breach thereof.
No property may be changed more than once under this subsection.
(g)
Except as otherwise provided in this subsection, no property shall maintain its
eligibility for conservation use assessment under this Code section unless a
valid covenant remains in effect and unless the property is continuously devoted
to forest land conservation use during the entire period of the covenant.
(h)
If any breach of a covenant occurs, the existing covenant shall be terminated
and all qualification requirements must be met again before the property shall
be eligible for conservation use assessment under this Code
section.
(i)
If ownership of all or a part of the forest land conservation use property is
acquired during a covenant period by another owner qualified to enter into an
original forest land conservation use covenant, then the original covenant may
be continued only by both such acquiring owner and the transferor for the
remainder of the term, in which event no breach of the covenant shall be deemed
to have occurred even if the total size of a tract from which the transfer was
made is reduced below 200 acres. If a breach of the covenant occurs following
such transfer by either such acquiring owner or the transferor, the penalty and
interest shall apply to the entire tract which was the subject of the original
covenant and shall be paid by either the acquiring owner or the transferor,
whichever of whom breached the covenant. Following the expiration of such
covenant, no new covenant shall be entered with respect to the tract from which
the transfer was made unless such tract exceeds 200 acres.
(j)(1)
All applications for conservation use assessment under this Code section,
including the covenant agreement required under this Code section, shall be
filed on or before the last day for filing ad valorem tax returns in the county
for the tax year for which such conservation use assessment is sought, except
that in the case of property which is the subject of a reassessment by the board
of tax assessors an application for conservation use assessment may be filed in
conjunction with or in lieu of an appeal of the reassessment. An application
for continuation of such conservation use assessment upon a change in ownership
of all or a part of the qualified property shall be filed on or before the last
date for filing tax returns in the year following the year in which the change
in ownership occurred. Applications for conservation use assessment under this
Code section shall be filed with the county board of tax assessors who shall
approve or deny the application. The county board of tax assessors shall file a
copy of the approved application in the office of the clerk of the superior
court in the county in which the eligible property is located. The clerk of the
superior court shall file and index such application in the real property
records maintained in the clerk´s office. If the application is not so
recorded in the real property records, a transferee of the property affected
shall not be bound by the covenant or subject to any penalty for its breach.
The fee of the clerk of the superior court for recording such applications shall
be paid by the qualified owner of the eligible property with the application for
conservation use assessment under this Code section and shall be paid to the
clerk by the board of tax assessors when the application is filed with the
clerk. If the application is denied, the board of tax assessors shall notify
the applicant in the same manner that notices of assessment are given pursuant
to Code Section 48-5-306 and shall return any filing fees advanced by the owner.
Appeals from the denial of an application by the board of tax assessors shall be
made in the same manner that other property tax appeals are made pursuant to
Code Section 48-5-311.
(2)
In the event such application is approved, the qualified owner shall continue to
receive annual notification of any change in the forest land fair market value
of such property and any appeals with respect to such valuation shall be made in
the same manner as other property tax appeals are made pursuant to Code Section
48-5-311.
(k)
The commissioner shall by regulation provide uniform application and covenant
forms to be used in making application for conservation use assessment under
this Code section.
(l)
In the case of an alleged breach of the covenant, the qualified owner shall be
notified in writing by the board of tax assessors. The qualified owner shall
have a period of 30 days from the date of such notice to cease and desist the
activity alleged in the notice to be in breach of the covenant or to remediate
or correct the condition or conditions alleged in the notice to be in breach of
the covenant. Following a physical inspection of property, the board of tax
assessors shall notify the qualified owner that such activity or activities have
or have not properly ceased or that the condition or conditions have or have not
been remediated or corrected. The qualified owner shall be entitled to appeal
the decision of the board of tax assessors and file an appeal disputing the
findings of the board of tax assessors. Such appeal shall be conducted in the
same manner that other property tax appeals are made pursuant to Code Section
48-5-311.
(m)(1)
A penalty shall be imposed under this subsection if during the period of the
covenant entered into by a qualified owner the covenant is
breached.
(2)
The penalty shall be applicable to the entire tract which is the subject of the
covenant and:
(A)
If breached during years one through five, shall for each covenant year
beginning with year one be three times the difference between the total amount
of tax paid pursuant to conservation use assessment under this Code section and
the total amount of taxes which would otherwise have been due under this chapter
for each completed or partially completed year of the covenant
period;
(B)
If breached during years six through ten, shall for each covenant year beginning
with year one be 2.5 times the difference between the total amount of tax paid
pursuant to conservation use assessment under this Code section and the total
amount of taxes which would otherwise have been due under this chapter for each
year or partially completed year of the covenant period; and
(C)
If breached during years 11 through 15, shall for each covenant year beginning
with year one be twice the difference between the total amount of tax paid
pursuant to conservation use assessment under this Code section and the total
amount of taxes which would otherwise have been due under this chapter for each
completed year or partially completed year of the covenant period.
(3)
Any such penalty shall bear interest at the rate specified in Code Section
48-2-40 from the date the covenant is breached.
(n)
In any case of a breach of the covenant where a penalty under subsection (m) of
this Code section is imposed, an amount equal to the amount of reimbursement to
each county, municipality, and board of education in each year of the covenant
shall be collected under subsection (o) of this Code section and paid over to
the commissioner who shall deposit such amount in the general fund.
(o)
Penalties and interest imposed under this Code section shall constitute a lien
against the property and shall be collected in the same manner as unpaid ad
valorem taxes are collected. Except as provided in subsection (n) of this Code
section, such penalties and interest shall be distributed pro rata to each
taxing jurisdiction wherein conservation use assessment under this Code section
has been granted based upon the total amount by which such conservation use
assessment has reduced taxes for each such taxing jurisdiction on the property
in question as provided in this Code section.
(p)
The penalty imposed by subsection (m) of this Code section shall not apply in
any case where a covenant is breached solely as a result of:
(1)
The acquisition of part or all of the property under the power of eminent
domain;
(2)
The sale of part or all of the property to a public or private entity which
would have had the authority to acquire the property under the power of eminent
domain; or
(3)
The death of an individual qualified owner who was a party to the
covenant.
(q)
The following shall not constitute a breach of a covenant:
(1)
Mineral exploration of the property subject to the covenant or the leasing of
the property subject to the covenant for purposes of mineral exploration if the
primary use of the property continues to be the good faith production from or on
the land of timber;
(2)
Allowing all or part of the property subject to the covenant to lie fallow or
idle for purposes of any forestry conservation program, for purposes of any
federal agricultural assistance program, or for other agricultural management
purposes;
(3)
Allowing all or part of the property subject to the covenant to lie fallow or
idle due to economic or financial hardship if the qualified owner notifies the
board of tax assessors on or before the last day for filing a tax return in the
county where the land lying fallow or idle is located and if such qualified
owner does not allow the land to lie fallow or idle for more than two years of
any five-year period;
(4)(A)
Any property which is subject to a covenant for forest land conservation use
being transferred to a place of religious worship or burial or an institution of
purely public charity if such place or institution is qualified to receive the
exemption from ad valorem taxation provided for under subsection (a) of Code
Section 48-5-41. No qualified owner shall be entitled to transfer more than 25
acres of such person´s property in the aggregate under this
paragraph.
(B)
Any property transferred under subparagraph (A) of this paragraph shall not be
used by the transferee for any purpose other than for a purpose which would
entitle such property to the applicable exemption from ad valorem taxation
provided for under subsection (a) of Code Section 48-5-41 or subsequently
transferred until the expiration of the term of the covenant period. Any such
use or transfer shall constitute a breach of the covenant; or
(5)
Leasing a portion of the property subject to the covenant, but in no event more
than six acres of every unit of 2,000 acres, for the purpose of placing thereon
a cellular telephone transmission tower. Any such portion of such property
shall cease to be subject to the covenant as of the date of execution of such
lease and shall be subject to ad valorem taxation at fair market
value.
(r)
In the following cases, the penalty specified by subsection (m) of this Code
section shall not apply and the penalty imposed shall be the amount by which
conservation use assessment has reduced taxes otherwise due for the year in
which the covenant is breached, such penalty to bear interest at the rate
specified in Code Section 48-2-40 from the date of the breach:
(1)
Any case in which a covenant is breached solely as a result of the foreclosure
of a deed to secure debt or the property is conveyed to the lienholder without
compensation and in lieu of foreclosure, if:
(A)
The deed to secure debt was executed as a part of a bona fide commercial loan
transaction in which the grantor of the deed to secure debt received
consideration equal in value to the principal amount of the debt secured by the
deed to secure debt;
(B)
The loan was made by a person or financial institution who or which is regularly
engaged in the business of making loans; and
(C)
The deed to secure debt was intended by the parties as security for the loan and
was not intended for the purpose of carrying out a transfer which would
otherwise be subject to the penalty specified by subsection (m) of this Code
section;
(2)
Any case in which a covenant is breached solely as a result of a medically
demonstrable illness or disability which renders the qualified owner of the real
property physically unable to continue the property in the qualifying use,
provided that the board of tax assessors shall require satisfactory evidence
which clearly demonstrates that the breach is the result of a medically
demonstrable illness or disability;
(3)
Any case in which a covenant is breached solely as a result of a qualified owner
electing to discontinue the property in its qualifying use, provided such
qualified owner has renewed without an intervening lapse at least once the
covenant for land conservation use, has reached the age of 65 or older, and has
kept the property in the qualifying use under the renewal covenant for at least
three years. Such election shall be in writing and shall not become effective
until filed with the county board of tax assessors; or
(4)
Any case in which a covenant is breached solely as a result of a qualified owner
electing to discontinue the property in its qualifying use, provided such
qualified owner entered into the covenant for forest land conservation use for
the first time after reaching the age of 67 and has either owned the property
for at least 15 years or inherited the property and has kept the property in the
qualifying use under the covenant for at least three years. Such election shall
be in writing and shall not become effective until filed with the county board
of tax assessors.
(s)
Property which is subject to forest land conservation use assessment under this
Code section shall be separately classified from all other property on the tax
digest; and such separate classification shall be such as will enable any person
examining the tax digest to ascertain readily that the property is subject to
conservation use assessment under this Code section. Covenants shall be public
records and shall be indexed and maintained in such manner as will allow members
of the public to locate readily the covenant affecting any particular property
subject to conservation use assessment under this Code section. Based on
information submitted by the county boards of tax assessors, the commissioner
shall maintain a central registry of conservation use property, indexed by
qualified owners.
(t)
The commissioner shall annually submit a report to the Governor, the Department
of Agriculture, the Georgia Agricultural Statistical Service, the Georgia
Forestry Commission, the Department of Natural Resources, and the University of
Georgia Cooperative Extension Service and the House Ways and Means, Natural
Resources and Environment, and Agriculture and Consumer Affairs committees and
the Senate Finance, Natural Resources and Environment, and Agriculture and
Consumer Affairs committees and shall make such report available to other
members of the General Assembly, which report shall show the fiscal impact of
the assessments provided for in this Code section. The report shall include the
amount of assessed value eliminated from each county´s digest as a result
of such assessments; approximate tax dollar losses, by county, to all local
governments affected by such assessments; and any recommendations regarding
state and local administration of this Code section, with emphasis upon
enforcement problems, if any, attendant with this Code section. The report
shall also include any other data or facts which the commissioner deems
relevant.
(u)
A public notice containing a brief, factual summary of the provisions of this
Code section shall be posted in a prominent location readily viewable by the
public in the office of the board of tax assessors and in the office of the tax
commissioner of each county in this state.
(v)
At such time as the property ceases to be eligible for forest land conservation
use assessment or when any 15 year covenant period expires and the property does
not qualify for further forest land conservation use assessment, the qualified
owner of the property shall file an application for release of forest land
conservation use treatment with the county board of tax assessors who shall
approve the release upon verification that all taxes and penalties with respect
to the property have been satisfied. After the application for release has been
approved by the board of tax assessors, the board shall file the release in the
office of the clerk of the superior court in the county in which the original
covenant was filed. The clerk of the superior court shall file and index such
release in the real property records maintained in the clerk´s office. No
fee shall be paid to the clerk of the superior court for recording such release.
The commissioner shall by regulation provide uniform release forms.
(w)
The commissioner shall have the power to make and publish reasonable rules and
regulations for the implementation and enforcement of this Code section.
Without limiting the commissioner´s authority with respect to any other
such matters, the commissioner may prescribe soil maps and other appropriate
sources of information for documenting eligibility as a forest land conservation
use property. The commissioner also may provide that advance notice be given to
a qualified owner of the intent of a board of tax assessors to deem a change in
use as a breach of a covenant."
SECTION
3.
Said
title is further amended by adding a new Code section to read as
follows:
"48-5-271.
(a)
The commissioner shall promulgate and county tax officials shall follow uniform
rules and regulations establishing a table of values for the conservation use
value of forest land conservation use property. Such values shall be the same
as provided for forest land values under Code Section 48-5-269.
(b)
In no event may the forest land conservation use value of any forest land
conservation use property in the table of values established by the commissioner
under this Code section for the taxable year beginning January 1, 2010, or any
subsequent taxable year increase or decrease by more than 3 percent from its
forest land conservation use value as set forth in the table of values
established by the commissioner under this Code section. The limitations
imposed by this subsection shall apply to the total value of all the forest land
conservation use property that is the subject of an individual
covenant."
SECTION
4.
Said
title is further amended by adding a new chapter to read as
follows:
"CHAPTER
5A
48-5A-1.
As
used in this chapter, the term:
(1)
'Applicable rollback' means a:
(A)
Rollback of an ad valorem tax millage rate pursuant to subsection (a) of Code
Section 48-8-91 in a county or municipality that levies a local option sales
tax;
(B)
Rollback of an ad valorem tax millage rate pursuant to subparagraph (c)(2)(C) of
Code Section 48-8-104 in a county or municipality that levies a homestead option
sales tax;
(C)
Subtraction from an ad valorem millage rate pursuant to Code Section 20-2-334 in
a local school system that receives a state school tax credit;
(D)
Reduction of an ad valorem tax millage rate pursuant to the development of a
service delivery strategy under Code Section 36-70-24; and
(E)
Reduction of an ad valorem tax millage rate pursuant to paragraph (2) of
subsection (a) of Code Section 33-8-8.3 in a county that collects insurance
premium tax.
(2)
'County millage rate' means the net ad valorem tax millage rate, after deducting
applicable rollbacks, levied by a county for county purposes and applying to
forest land conservation use properties in the county, including any millage
levied for those special districts reported on the 2004 ad valorem tax digest
certified to and received by the state revenue commissioner on or before
December 31, 2004, but not including any millage levied for purposes of bonded
indebtedness and not including any millage levied on behalf of a county school
district for educational purposes.
(3)
'Fiscal authority' means the individual authorized to collect ad valorem taxes
for a county or municipality which levies ad valorem taxes.
(4)
'Forest land conservation use property' means a forest land conservation use
property qualified for special assessment and taxation under Code Section
48-5-7.7 and Article VII, Section I, Paragraph III(f) of the
Constitution.
(5)
'Forest land conservation use value' means the same as such term is defined in
paragraph (5) of Code Section 48-5-2 and shall not include the value of standing
timber on such property.
(6)
'Forest land fair market value' means the same as such term is defined in
paragraph (6) of Code Section 48-5-2.
(7)
'Municipal millage rate' means the net ad valorem tax millage rate, after
deducting applicable rollbacks, levied by a municipality for municipal purposes
and applying to forest land conservation use properties in the municipality,
including any millage levied for those special tax districts reported on the
2004 City and Independent School Millage Rate Certification certified to and
received by the state revenue commissioner on or before December 31, 2004, but
not including any millage levied for purposes of bonded indebtedness and not
including any millage levied on behalf of an independent school district for
educational purposes.
(8)
'School millage rate' means the net ad valorem tax millage rate, after deducting
applicable rollbacks, levied on behalf of a county or independent school
district for educational purposes and applying to forest land conservation use
properties in the county or independent school district, not including any
millage levied for purposes of bonded indebtedness and not including any millage
levied for county or municipal purposes.
(9)
'State millage rate' means the state millage levy.
48-5A-2.
In
each year the General Assembly shall appropriate to the Department of Revenue
funds for forest land conservation use assistance grants to counties,
municipalities, and county or independent school districts pursuant to Article
VII, Section I, Paragraph III(f) of the Constitution. The General
Appropriations Act shall specify the amount appropriated subject to the
limitations of this chapter.
48-5A-3.
(a)
Pursuant to the appropriation of funds as provided in Code Section 48-5A-2, such
grants shall be allotted to each county, municipality, and county or independent
school district in the state as provided in this Code section.
(b)
The revenue reduction to each county, municipality, and county or independent
school district shall be calculated by subtracting the aggregate forest land
conservation use value of qualified properties from the aggregate forest land
fair market value of qualified properties for the applicable tax year and the
resulting amount shall be multiplied by the millage rate of the county,
municipality, or county or independent school district.
(c)(1)(A)
Immediately following the actual preparation of ad valorem property tax bills,
each county fiscal authority shall notify the Department of Revenue of the
amount of the reduction pursuant to the implementation of Article VII, Section
I, Paragraph III(f).
(B)
If the forest land conservation use property is located in a county where forest
land conservation use value causes an ad valorem tax revenue reduction of 3
percent or less pursuant to Article VII, Section I, Paragraph III(f), in each
taxable year in which such reduction occurs, the assistance grant to the county
shall be in an amount equal to 50 percent of the amount of such
reduction.
(C)
If the forest land conservation use property is located in a county where forest
land conservation use value causes an ad valorem tax revenue reduction of more
than 3 percent pursuant to Article VII, Section I, Paragraph III(f), in
each taxable year in which such reduction occurs, the assistance grants to the
county shall be as follows:
(i)
For the first 3 percent of such reduction amount, in an amount equal to 50
percent of the amount of such reduction; and
(ii)
For the remainder of such reduction amount, in an amount equal to 100 percent of
the amount of such remaining reduction amount.
(2)(A)
Immediately following the actual preparation of ad valorem property tax bills,
each county or independent school district´s fiscal authority shall notify
the Department of Revenue of the amount of the reduction pursuant to the
implementation of Article VII, Section I, Paragraph III(f).
(B)
If the forest land conservation use property is located in a county or
independent school district where forest land conservation use value causes an
ad valorem tax revenue reduction of 3 percent or less pursuant to
Article VII, Section I, Paragraph III(f), in each taxable year in
which such reduction occurs, the assistance grant to the county or independent
school district shall be in an amount equal to 50 percent of the amount of such
reduction.
(C)
If the forest land conservation use property is located in a county or
independent school district where forest land conservation use value causes an
ad valorem tax revenue reduction of more than 3 percent pursuant to Article VII,
Section I, Paragraph III(f), in each taxable year in which such reduction
occurs, the assistance grant to the county or independent school district shall
be as follows:
(i)
For the first 3 percent of such reduction amount, in an amount equal to 50
percent of the amount of such reduction; and
(ii)
For the remainder of such reduction amount, in an amount equal to 100 percent of
the amount of such remaining reduction amount.
(3)(A)
Immediately following the actual preparation of ad valorem property tax bills,
each municipality´s fiscal authority shall notify the Department of Revenue
of the amount of the reduction pursuant Article VII, Section I, Paragraph
III(f).
(B)
If the forest land conservation use property is located in a municipality where
forest land conservation use value causes an ad valorem tax revenue reduction of
3 percent or less to Article VII, Section I, Paragraph III(f), in each taxable
year in which such reduction occurs, the assistance grant to the municipality
shall be in an amount equal to 50 percent of the amount of such
reduction.
(C)
If the forest land conservation use property is located in a municipality where
forest land conservation use value causes an ad valorem tax revenue reduction of
more than 3 percent pursuant to Article VII, Section I, Paragraph III(f), in
each taxable year in which such reduction occurs, the assistance grant to the
municipality shall be as follows:
(i)
For the first 3 percent of such reduction amount, in an amount equal to 50
percent of the amount of such reduction; and
(ii)
For the remainder of such reduction amount, in an amount equal to 100 percent of
the amount of such remaining reduction amount.
48-5A-4.
The
state revenue commissioner shall administer this chapter and shall adopt rules
and regulations for the administration of this chapter, including specific
instructions to local governments procedures."
SECTION
5.
This
Act shall become effective on January 1, 2009, and shall be applicable to all
taxable years beginning on or after January 1, 2009; provided, however, that
this Act shall only become effective on January 1, 2009, upon the ratification
of a resolution at the November, 2008, state-wide general election, which
resolution amends the Constitution so as to provide for the special assessment
and taxation of forest land conservation use property and for local government
assistance grants. If such resolution is not so ratified, this Act shall not
become effective and shall stand repealed in its entirety on January 1,
2009.
SECTION
6.
All
laws and parts of laws in conflict with this Act are repealed.