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GA HB1261
GA HB1261Revenue and taxation; level 1 freeport exemptions for certain goods in inventory for electric utilities; provide
summary
Introduced
02/09/2026
02/09/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to tax exemptions, so as to provide for level 1 freeport exemptions for certain goods in inventory for electric utilities; to provide for application for such exemptions; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill amends Georgia law to extend a "level 1 freeport exemption" to certain inventory held by electric utilities. A freeport exemption is a tax break that allows businesses to avoid paying property taxes on goods that are in inventory, meaning they are stored and not yet sold or used. Specifically, this bill allows electric utilities to claim this exemption for finished goods and parts they hold in inventory that are intended to be used to build, improve, repair, or maintain electric generation, distribution, or transmission infrastructure within Georgia. This means that the materials and equipment an electric utility keeps on hand for these purposes will be exempt from property taxes, similar to how other types of inventory are already treated under existing freeport exemption rules.
Committee Categories
Budget and Finance
Sponsors (6)
Chas Cannon (R)*,
Robert Dickey (R)*,
Spencer Frye (D)*,
David Huddleston (R)*,
Brad Thomas (R)*,
Bruce Williamson (R)*,
Last Action
House Second Readers (on 02/11/2026)
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/73032 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/242064 |
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