08 LC
25 5205
House
Bill 1338
By:
Representatives Lane of the
158th,
Royal of the
171st,
Floyd of the
147th,
Cole of the
125th,
and England of the
108th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-5-7.4 of the Official Code of Georgia Annotated, relating
to current use ad valorem tax assessment for bona fide conservation use
property, residential transitional property, application procedures, penalties
for breach of covenant, classification on tax digest, and annual reports, so as
to change certain provisions relating to disqualification for eligibility of
property; to provide an effective date; to repeal conflicting laws; and for
other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-5-7.4 of the Official Code of Georgia Annotated, relating to current
use ad valorem tax assessment for bona fide conservation use property,
residential transitional property, application procedures, penalties for breach
of covenant, classification on tax digest, and annual reports, is amended by
revising paragraph (5) of subsection (b) as follows:
"(5)
No property shall qualify as bona fide conservation use property if such
property is at the time of application for current use assessment subject to a
restrictive covenant which prohibits the use of the property for
any purpose
described in
the particular
purpose for which bona fide conservation use qualification is sought
under subparagraph (a)(1)(E) of this Code
section; and"
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.