Bill
Bill > HB808
summary
Introduced
03/21/2023
03/21/2023
In Committee
03/07/2024
03/07/2024
Crossed Over
02/26/2024
02/26/2024
Passed
04/02/2024
04/02/2024
Dead
Signed/Enacted/Adopted
05/06/2024
05/06/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT To amend Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to property tax exemptions and deferral, so as to increase a statewide ad valorem tax exemption for tangible personal property; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for related matters; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, and automatic repeal; to repeal conflicting laws; and for other purposes.
AI Summary
This bill aims to increase the statewide ad valorem (property) tax exemption for tangible personal property from $7,500 to $20,000. It specifies the terms and conditions of the exemption and the procedures for its implementation. The bill requires a referendum, with the proposed exemption increase needing to be approved by a two-thirds majority vote in both the state Senate and House of Representatives, as well as a majority of Georgia voters in a statewide election scheduled for November 5, 2024. If approved, the increased exemption will become effective on January 1, 2025.
Committee Categories
Budget and Finance
Sponsors (7)
Mike Cheokas (R)*,
Matt Dubnik (R)*,
Karen Mathiak (R)*,
Alan Powell (R)*,
Jason Ridley (R)*,
Bill Yearta (R)*,
John Albers (R),
Last Action
Effective Date 2024-05-06 (on 05/06/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/65535 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/228993 |
| Fiscal Note | https://www.legis.ga.gov/api/legislation/document/20232024/226658 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/225582 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/225106 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/218835 |
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