23 LC 33 9417
H. B. 504
- 1 -
House Bill 504
By: Representatives Hatchett of the 155
th
and Jones of the 25
th
A BILL TO BE ENTITLED
AN ACT
To amend Code Section 20-2-164 of the Official Code of Georgia Annotated, relating to
1
local five mill share funds, so as to exclude amounts attributable to level 1 freeport2
exemptions for purposes of calculating local five mill share; to provide for related matters;3
to repeal conflicting laws; and for other purposes.4
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
SECTION 1.6
Code Section 20-2-164 of the Official Code of Georgia Annotated, relating to local five mill7
share funds, is amended by revising subparagraph (a)(1)(A) as follows:8
"(A) Determine the most recent equalized adjusted school property tax digest for the9
local school system less the amount attributable to timber calculated pursuant to10
paragraph (2) of subsection (b) of Code Section 48-5-274 and less the amount
11
attributable to level 1 freeport exemptions pursuant to Code Section 48-5-48.2, multiply12
the difference by .4, and add to that product the amount attributable to timber calculated13
pursuant to paragraph (2) of subsection (b) of Code Section 48-5-274;"14 23 LC 33 9417
H. B. 504
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SECTION 2.
15
All laws and parts of laws in conflict with this Act are repealed.16