Bill > HB802

This bill authorizes the City of Cedartown, Georgia to exercise comprehensive redevelopment powers under the state's "Redevelopment Powers Law" (Chapter 44 of Title 36 of the Official Code of Georgia Annotated). Specifically, the bill allows the city to undertake community redevelopment projects, create tax allocation districts, and issue tax allocation bonds, which are financial tools that can help fund urban renewal and economic development initiatives. The bill mandates a referendum to be held on the Tuesday following the third Tuesday in June 2025, where Cedartown voters will decide whether to approve these expanded redevelopment powers. The ballot will ask voters to approve or reject the Act, with a simple majority vote required for implementation. If more than half of the votes cast are in favor, Section 1 of the Act will immediately take effect; however, if the referendum fails or is not properly conducted, the Act will be automatically repealed on the first day of January following the election.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.

Government Affairs

https://www.legis.ga.gov/legislation/71487