08 LC 37
0667
House
Bill 1345
By:
Representative Peake of the
137th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 4 of Article 6 of Chapter 3 of Title 12 of the Official Code of
Georgia Annotated, relating to the Stone Mountain Memorial Association, so as to
clarify that the association is exempt from taxation; to provide for an
effective date; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Part
4 of Article 6 of Chapter 3 of Title 12 of the Official Code of Georgia
Annotated, relating to the Stone Mountain Memorial Association, is amended by
revising subsection (a) of Code Section 12-3-219, relating to the exemption from
taxation of association property, activities, income, and bonds, as
follows:
"(a)
It is found, determined, and declared that the creation of the association and
the carrying out of its corporate purposes are in all respects for the benefit
of the people of this state and that the association is an institution of purely
public charity and will be performing an essential governmental function in the
exercise of the power conferred upon it by this part. Except as otherwise
provided in subsection (b) of this Code section, this state covenants with the
holders of the bonds that the association shall be required to pay no taxes or
assessment upon any of the property acquired or leased by it under its
jurisdiction, control, possession, or supervision, or upon its activities in the
operation or maintenance of the project erected by it, or upon any fees, rental,
or other charges for the use of the facilities or services of the project, or
upon other income received by the association
and that the
association shall be exempt from all sales and use
taxes. Further, this state covenants that
the bonds of the association, their transfer, and the income therefrom shall at
all times be exempt from
all
taxation from within the state."
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laws and parts of laws in conflict with this Act are repealed.