07 LC
14 9594
House
Bill 481
By:
Representatives Lindsey of the
54th
and Wilkinson of the
52nd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 1 of Chapter 8 of Title 48 of the Official Code of Georgia
Annotated, relating to sales and use taxation in general, so as to provide that
certain sales and use taxes imposed on sales to and construction of certain
tourist attraction facilities may under certain conditions be refunded to the
owner and operator; to define a term; to provide for applications, records, and
administration; 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.
Article
1 of Chapter 8 of Title 48 of the Official Code of Georgia Annotated, relating
to sales and use taxation in general, is amended by adding a new Code section to
read as follows:
"48-8-3.2.
(a)
As used in this Code section, the term 'qualified historical and educational
attraction' means any tourist attraction facility constructed on or after the
effective date of this Code section 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)
From the effective date of this Code section until December 31, 2009, sales and
use of tangible personal property to, or used in or for the new construction of,
a qualified historical and educational attraction shall be taxable under this
chapter, but state sales and use tax (not including local taxes) paid on such
sales and use may under the conditions specified in this Code section be
refundable to the nonprofit organization owning and operating the qualified
historical and educational attraction.
(c)
In order to receive a refund of the taxes specified in subsection (b) of this
Code section, the taxpayer shall:
(1)
Prior to paying such taxes apply for and receive a determination from the
commissioner that the taxpayer is engaged in or is about to engage in the
construction and operation of a qualified historical and educational
attraction;
(2)
During construction maintain documentation and records adequate to demonstrate
the amount of tax payments specified in subsection (b) of this Code section;
and
(3)
On and after completion of the qualified historical and educational attraction
maintain for a period of five years documentation and records adequate to
demonstrate the amount of state sales and use tax collected and remitted to the
state in the operation of the qualified historical and educational attraction.
Tax remittances specified in this paragraph shall be specially identified and
remitted on a special form to be provided by the commissioner.
(d)
At the end of the five-year period referred to in paragraph (3) of subsection
(c) of this Code section, the taxpayer shall be entitled to apply for and
receive a refund equal to the lesser of:
(1)
The amount of tax payments specified in subsection (b) of this Code section;
or
(2)
The amount of taxes collected and remitted as specified in paragraph (3) of
subsection (c) of this Code section.
No
interest shall be paid on such a refund.
(e)
The commissioner is authorized to adopt rules and regulations necessary or
appropriate to the administration of this Code section."
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.