Bill > HB359

This bill authorizes the City of Cedartown, Georgia to exercise comprehensive redevelopment powers as outlined in the state's "Redevelopment Powers Law" (Chapter 44 of Title 36 of the Official Code of Georgia Annotated). The bill specifically enables the city to undertake community redevelopment projects, create tax allocation districts, issue tax allocation bonds, and incur other related financial obligations. To implement these powers, the bill requires a referendum to be held on the Tuesday following the third Tuesday in March 2025, where voters will decide whether to approve the expansion of redevelopment powers. The ballot will ask voters to approve or reject the act, with a "Yes" vote supporting the expanded powers and a "No" vote opposing them. If more than half of the votes cast are in favor, Section 1 of the act will take full effect; otherwise, the act will be automatically repealed on the January 1st following the election. The election expenses will be paid by the City of Cedartown, and the election superintendent is responsible for certifying the results to the Secretary of State. The bill becomes effective upon gubernatorial approval or when it becomes law without approval, subject to the referendum outcome.

Government Affairs

https://www.legis.ga.gov/legislation/70121