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GA HB933
GA HB933Lake Lanier Islands Development Authority; property held is for public purposes for the benefit of the people of this state; provide
summary
Introduced
01/12/2026
01/12/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Part 3 of Article 7 of Chapter 3 of Title 12 of the Official Code of Georgia Annotated, relating to the Lake Lanier Islands Development Authority, so as to provide that property held by the authority and that leaseholds and other interest in such property granted by the authority are public property held for public purposes for the benefit of the people of this state; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill clarifies that all property, including leaseholds and other interests granted by the Lake Lanier Islands Development Authority, is considered public property held for public purposes for the benefit of the people of Georgia, and therefore exempt from ad valorem property taxes. This designation is intended to reinforce the public nature of the authority's assets and activities, ensuring they serve the state's interests and are not subject to property taxes. The bill also confirms that the authority's bonds, their transfer, and the income they generate will remain exempt from state taxation, and extends the sales and use tax exemption to property purchased by the authority for its exclusive use.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
House Second Readers (on 01/14/2026)
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/72131 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/239639 |
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