Bill > HB1132

This bill exempts materials used in the construction, renovation, and rehabilitation of affordable housing from state and local sales and use taxes when those projects are undertaken by purely public charities, which are organizations exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. To qualify for this exemption, the real property must be used exclusively for building single-family homes that will be financed by the charity to first-time homebuyers with interest-free loans. These homebuyers must agree to a covenant restricting the sale of the home for at least 30 years and must have an income at or below 80 percent of the county's median income, as determined annually by the U.S. Department of Housing and Urban Development (HUD). The exemption applies only to materials that will permanently remain on the property, and it will take effect on January 1, 2027.

Budget and Finance

https://www.legis.ga.gov/legislation/72686