08
House
Bill 1452 (AS PASSED HOUSE AND SENATE)
By:
Representative Holmes of the
61st
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend an Act providing for urban enterprise zones in the City of Atlanta and
known as the "Atlanta Urban Enterprise Zone Act," approved March 24, 1988 (Ga.
L. 1988, p. 4164), as amended, so as to require the Board of Commissioners of
Fulton County to grant an exemption from certain ad valorem taxes for county
purposes for property within a certain zone; to provide for said zone to be
abolished; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
An
Act providing for urban enterprise zones in the City of Atlanta and known as the
"Atlanta Urban Enterprise Zone Act," approved March 24, 1988 (Ga. L. 1988, p.
4164), as amended, is amended by adding a new paragraph to subsection (d) of
Section 8 to read as follows:
"(2.1)
Notwithstanding any provision of this subsection to the contrary, the 'Fulton
Cotton and Bag Mill Mixed-Use Enterprise Zone,' also known as the 'Fulton Bag
and Cotton Mill Mixed-Use Enterprise Zone,' created by the Board of
Commissioners of Fulton County by a resolution adopted on July 19, 1995, shall
be exempt from Fulton County ad valorem taxes for county purposes in an amount
equal to 60 percent of its taxable value for tax year 2008, 40 percent of its
taxable value for tax year 2009, and 20 percent of its taxable value for tax
year 2010. The Fulton Cotton and Bag Mill Mixed-Use Enterprise Zone shall be
abolished at the last moment of December 31, 2010."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.