Bill > HB416

This bill amends Georgia's enterprise zone legislation to modify how local governments can collect fees from retailers and extend the duration of enterprise zones. Specifically, the bill allows local governing bodies to collect annual infrastructure fees from qualifying businesses or service enterprises making sales transactions that are exempted from sales and use tax, rather than from all retailers operating within a project's boundaries. The bill also extends the existence of enterprise zones designated under a specific provision from 10 years to 30 years, with the duration now tied to the first issuance of revenue bonds over $100,000 instead of the completion of a redevelopment project. The enterprise zone must be located in an urban redevelopment area and include a redevelopment project with at least $400 million in capital investment in an area that has been chronically underdeveloped for 20 or more years. The bill maintains that property tax incentives for qualifying businesses will remain in effect for the full ten-year period established by existing law, even if the enterprise zone designation is terminated. Additionally, the bill explicitly excludes projects involving casino gambling from these provisions.

Business and Industry, Government Affairs

https://www.legis.ga.gov/legislation/70257