08 LC 21
9873S
The
Senate Finance Committee offered the following substitute to SB
538:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of
Georgia Annotated, relating to ad valorem tax exemptions, so as to provide a
homestead exemption for the full value of the homestead for certain senior
citizens with respect to all ad valorem taxes for educational purposes; to
provide for definitions; to specify the terms and conditions of the exemption
and the procedures relating thereto; to provide for a referendum; to provide for
effective dates; to provide for 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.
Part
1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia
Annotated, relating to tax exemptions, is amended by adding a new Code section
to read as follows:
"48-5-47.2.
(a)
As used in this Code section, the term:
(1)
'Ad valorem taxes for educational purposes' means all ad valorem taxes for
educational purposes levied by, for, or on behalf of the state and all county
school districts and independent school districts, including, but not limited
to, any ad valorem taxes to pay interest on and to retire bonded indebtedness
for educational purposes.
(2)
'Homestead' means homestead as defined and qualified in Code Section 48-5-40,
with the additional qualification that it shall include not more than five
contiguous acres of homestead property.
(3)
'Senior citizen' means a person who is 65 years of age or over on or before
January 1 of the year in which application for the exemption under this Code
section is made.
(b)
Each resident of the state who is a senior citizen is granted an exemption on
that person´s homestead from all ad valorem taxes for educational purposes
for the full value of that homestead. The value of that property in excess of
such exempted amount shall remain subject to taxation.
(c)
A person shall not receive the homestead exemption granted by subsection (b) of
this Code section unless the person or person´s agent files an affidavit
with the tax commissioner of the county in which that person resides giving the
person´s age and such additional information relative to receiving such
exemption as will enable the tax commissioner to make a determination regarding
the initial and continuing eligibility of such person for such exemption. The
tax commissioner shall provide application forms for this purpose.
(d)
The exemption shall be claimed and returned as provided in Code Section
48-5-50.1. The exemption shall be automatically renewed from year to year as
long as the person occupies the residence as a homestead. After a person has
filed the proper application and affidavit as provided in subsection (c) of this
Code section, it shall not be necessary to make application and file such
affidavit thereafter for any year and the exemption shall continue to be allowed
to such person. It shall be the duty of any person granted the homestead
exemption under this Code section to notify the tax commissioner or the designee
thereof in the event that person for any reason becomes ineligible for that
exemption.
(e)
The exemption granted by subsection (b) of this section shall not apply to or
affect any state ad valorem taxes other than for education purposes, county ad
valorem taxes for county purposes, or municipal ad valorem taxes for municipal
purposes. The homestead exemption granted by subsection (b) of this section
shall be in addition to and not in lieu of any other homestead exemption
applicable to ad valorem taxes for educational purposes.
(f)
The exemption granted by this Code section shall apply to all taxable years
beginning on or after January 1, 2009."
SECTION
2.
Unless
prohibited by the federal Voting Rights Act of 1965, as amended, the Secretary
of State shall call and conduct a referendum as provided in this section for the
purpose of submitting this Act to the electors of the State of Georgia for
approval or rejection. The Secretary of State shall conduct that election on
the date of the November, 2008, state-wide general election. The Secretary of
State shall cause the date and purpose of the election to be published once a
week for two weeks immediately preceding the date thereof in the official organ
of each county in the state. The ballot shall have written or printed thereon
the words:
|
"( ) YES
( ) NO
|
Shall
the Act be approved which provides a homestead exemption for the full value of
the homestead for persons age 65 and over with respect to all ad valorem taxes
for educational purposes on not more than five acres of homestead
property?"
|
All
persons desiring to vote for approval of the Act shall vote "Yes," and persons
desiring to vote for rejection of the Act shall vote "No." If more than
one-half of the votes cast on such question are for approval of the Act, then
Section 1 of this Act shall become effective on January 1, 2009, and shall be
applicable to all taxable years beginning on or after that date. If Section 1
of this Act is not so approved or if the election is not conducted as provided
in this section, Section 1 of this Act shall not become effective and this Act
shall be automatically repealed on the first day of January immediately
following that election date.
SECTION
3.
Except
as otherwise provided in Section 2 of this Act, this Act shall become effective
upon its approval by the Governor or upon its becoming law without such
approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.