08 LC 18
7536S
The
Senate Finance Committee offered the following substitute to HR
1276:
A
RESOLUTION
Proposing
an amendment to the Constitution so as to provide for the special assessment and
taxation of forest land conservation use property; to provide for local
government assistance grants; to provide for definitions, procedures,
conditions, and limitations; to provide for the submission of this amendment for
ratification or rejection; and for other purposes.
BE
IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
VII, Section I, Paragraph III of the Constitution is amended by revising
subparagraph (a) as follows:
"(a)
All taxes shall be levied and collected under general laws and for public
purposes only. Except as otherwise provided in subparagraphs (b), (c), (d),
and
(e), and (f)
of this Paragraph, all taxation shall be
uniform upon the same class of subjects within the territorial limits of the
authority levying the tax."
SECTION
2.
Said
Paragraph of the Constitution is further amended by revising subparagraph (f) as
follows:
"(f)(1)
The General Assembly shall provide by general law for the definition and methods
of assessment and taxation, such methods to include a formula based on current
use, annual productivity, and real property sales data, of 'forest land
conservation use property' to include only forest land each tract of which
exceeds 200 acres of a qualified owner. Such methods of assessment and taxation
shall be subject to the following conditions:
(A)
A qualified owner shall consist of any individual or individuals or any entity
registered to do business in this state;
(B)
A qualified owner desiring the benefit of such methods of assessment and
taxation shall be required to enter into a covenant to continue the property in
forest land use;
(C)
All contiguous forest land conservation use property of an owner within a county
for which forest land conservation use assessment is sought under this
subparagraph shall be in a single covenant;
(D)
A breach of such covenant within 15 years shall result in a recapture of the tax
savings resulting from such methods of assessment and taxation and may result in
other appropriate penalties; and
(E)
The General Assembly may provide by general law for a limited exception to the
200 acre requirement in the case of a transfer of ownership of all or a part of
the forest land conservation use property during a covenant period to another
owner qualified to enter into an original forest land conservation use covenant
if the original covenant is continued by both such acquiring owner and the
transferor for the remainder of the term, in which event no breach of the
covenant shall be deemed to have occurred even if the total size of a tract from
which the transfer was made is reduced below 200 acres.
(2)
No portion of an otherwise eligible tract of forest land conservation use
property shall be entitled to receive simultaneously special assessment and
taxation under this subparagraph and either subparagraph (c) or (e) of this
Paragraph.
(3)(A)
The General Assembly shall appropriate an amount for assistance grants to
counties, municipalities, and county and independent school districts to offset
revenue loss attributable to the implementation of this subparagraph. Such
grants shall be made in such manner and shall be subject to such procedures as
may be specified by general law.
(B)
If the forest land conservation use property is located in a county,
municipality, or county or independent school district where forest land
conservation use value causes an ad valorem tax revenue reduction of 3 percent
or less due to the implementation of this subparagraph, in each taxable year in
which such reduction occurs, the assistance grants to the county, each
municipality located therein, and the county or independent school districts
located therein shall be in an amount equal to 50 percent of the amount of such
reduction.
(C)
If the forest land conservation use property is located in a county,
municipality, or county or independent school district where forest land
conservation use value causes an ad valorem tax revenue reduction of more than 3
percent due to the implementation of this subparagraph, in each taxable year in
which such reduction occurs, the assistance grants to the county, each
municipality located therein, and the county or independent school districts
located therein shall be as follows:
(i)
For the first 3 percent of such reduction amount, in an amount equal to 50
percent of the amount of such reduction; and
(ii)
For the remainder of such reduction amount, in an amount equal to 100 percent of
the amount of such remaining reduction amount.
(4)
Such revenue reduction shall be calculated by utilizing forest land fair market
value. For purposes of this subparagraph, forest land fair market value means
the 2008 fair market value of the forest land. Such 2008 valuation may increase
from one taxable year to the next by a rate equal to the percentage change in
the price index for gross output of state and local government from the prior
year to the current year as defined by the National Income and Product Accounts
and determined by the United States Bureau of Economic Analysis and indicated by
the Price Index for Government Consumption Expenditures and General Government
Gross Output (Table 3.10.4). Such revenue reduction shall be determined by
subtracting the aggregate forest land conservation use value of qualified
properties from the aggregate forest land fair market value of qualified
properties for the applicable tax year and the resulting amount shall be
multiplied by the millage rate of the county, municipality, or county or
independent school district.
(5)
For purposes of this subparagraph, the forest land conservation use value shall
not include the value of the standing timber located on forest land conservation
use property.
(g)
The General Assembly may provide for a different method and time of returns,
assessments, payment, and collection of ad valorem taxes of public utilities,
but not on a greater assessed percentage of value or at a higher rate of
taxation than other properties, except that property provided for in
subparagraph (c), (d),
or
(e), or (f) of
this Paragraph."
SECTION
3.
The
above proposed amendment to the Constitution shall be published and submitted as
provided in Article X, Section I, Paragraph II of the Constitution. The ballot
submitting the above proposed amendment shall have written or printed thereon
the following:
|
"( ) YES
( ) NO
|
Shall
the Constitution of Georgia be amended so as to provide that the General
Assembly by general law shall encourage the preservation, conservation, and
protection of the state´s forests through the special assessment and
taxation of certain forest lands and assistance grants to local
government?"
|
All
persons desiring to vote in favor of ratifying the proposed amendment shall vote
"Yes." All persons desiring to vote against ratifying the proposed amendment
shall vote "No." If such amendment shall be ratified as provided in said
Paragraph of the Constitution, it shall become a part of the Constitution of
this state.