07 LC 14
9730S
The
Senate Finance Committee offered the following substitute to HB
413:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to
sales and use tax exemptions, so as to provide for an exemption for a limited
period of time with respect to sales of personal property to or used in the
construction or expansion of a nature center owned or operated by an
organization that is exempt from taxation under Section 501(c)(3) of the
Internal Revenue Code and the construction or expansion of certain tourist
attraction facilities; to provide for conditions and limitations; to provide for
related matters; 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 48-8-3 of the Official Code of Georgia Annotated, relating to sales and
use tax exemptions, is amended by replacing "; or" with a semicolon at the end
of paragraph (84), replacing the period at the end of paragraph (85) with ";
or", and by adding a new paragraph to read as follows:
"(86)(A)
Notwithstanding any provision of Code Section 48-8-63 to the contrary, from the
period commencing on April 1, 2007, and ending on June 30, 2009, sales of
tangible personal property to, or used in the construction or expansion
of:
(i)
A nature center owned or operated by an organization which is exempt from
taxation under Section 501(c)(3) of the Internal Revenue Code if:
(I)
Such nature center is constructed on or after the effective date of this
paragraph;
(II)
Such nature center is located on a parcel of at least 120 acres but not more
than 150 acres; and
(III)
The aggregate construction costs of such nature center is $8 million or
more; or
(ii)
Any tourist attraction facility constructed on or after the effective date of
this paragraph dedicated to representing history through sculpture and art which
costs in excess of $8 million to construct, is greater than 10,000 square feet,
and is owned and operated by a nonprofit organization.
(B)
The total amount of the exemption allowed under division (i) of subparagraph (A)
of this paragraph shall not exceed $350,000.00 in the
aggregate."
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laws and parts of laws in conflict with this Act are repealed.