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GA SB33

GA SB33
"Georgia Hemp Farming Act"; total THC concentration of consumable hemp products; provide limits

summary

Introduced
01/27/2025
In Committee
03/25/2026
Crossed Over
03/06/2025
Passed
04/10/2026
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

AN ACT To amend Titles 20, 21, 36, and 48 of the Official Code of Georgia Annotated, relating to education, elections, local government, and revenue and taxation, respectively, so as to provide for property tax reform; to provide for distribution and use of special district option sales and use tax proceeds (FLOST); to establish a Local Homestead Option Sales Tax (LHOST); to provide for imposition, collection, and distribution of proceeds; to provide for definitions; to exclude amounts attributable to certain exemptions from ad valorem taxation from the equalized adjusted school property tax digest for the purpose of calculating the local five mill share and equalization grants; to increase the cap on reserve funds for local school systems; to limit the dates of a special election presenting a question by a local government to increase revenues; to make the state-wide base year homestead exemption mandatory for all political subdivisions; to revise definitions, limits, and procedures related to the state-wide base year homestead exemption; to require municipal and school officials to submit certain information relating to ad valorem taxes; to prohibit the retroactive assessment of additional ad valorem taxes to a taxpayer due to an improperly or mistakenly applied homestead exemption at no fault of the taxpayer; to make conforming changes; to provide for related matters; to provide for short titles; to provide an effective date; to repeal conflicting laws; and for other purposes.

AI Summary

This bill, titled the "Homeownership Opportunity and Market Equalization Act of 2026," aims to reform property taxes and introduce a new local sales tax option for funding homestead exemptions. Key provisions include establishing a "Local Homestead Option Sales Tax" (LHOST) which allows eligible local governments to levy a special sales and use tax, capped at 1%, to fund homestead exemptions, meaning a reduction in property taxes for primary residences. The bill also modifies how property tax digests are calculated to account for various exemptions, increases the cap on reserve funds for local school systems, and restricts the dates for special elections where local governments propose revenue increases. Furthermore, it makes the state-wide base year homestead exemption mandatory for all political subdivisions, revises its definitions and procedures, and prohibits the retroactive assessment of additional property taxes to taxpayers due to honest mistakes in applying homestead exemptions. The bill also requires municipal and school officials to submit certain ad valorem tax information and makes conforming changes to existing laws.

Committee Categories

Agriculture and Natural Resources, Business and Industry

Sponsors (16)

Last Action

Senate Sent to Governor (on 04/10/2026)

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