| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 25 LC 50 1020 | |
| 2 | 2 | House Bill 281 | |
| 3 | 3 | By: Representatives Smith of the 138 | |
| 4 | 4 | th | |
| 5 | 5 | , Williamson of the 112 | |
| 6 | 6 | th | |
| 7 | 7 | , Blackmon of the 146 | |
| 8 | 8 | th | |
| 9 | 9 | , | |
| 10 | 10 | Kelley of the 16 | |
| 11 | 11 | th | |
| 12 | 12 | , and Crowe of the 118 | |
| 13 | 13 | th | |
| 14 | 14 | ||
| 15 | 15 | A BILL TO BE ENTITLED | |
| 16 | 16 | AN ACT | |
| 17 | 17 | To amend Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad | |
| 18 | 18 | 1 | |
| 19 | 19 | valorem taxation of property, so as to change certain definitions regarding such taxation; to2 | |
| 20 | 20 | provide for an effective date; to repeal conflicting laws; and for other purposes.3 | |
| 21 | 21 | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:4 | |
| 22 | 22 | SECTION 1.5 | |
| 23 | 23 | Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad valorem6 | |
| 24 | 24 | taxation of property, is amended in Code Section 48-5-2, relating to definitions regarding7 | |
| 25 | 25 | such taxation, by revising paragraph (1) as follows:8 | |
| 26 | 26 | "(1) 'Current use value' of bona fide conservation use property means the amount a9 | |
| 27 | 27 | knowledgeable buyer would pay for the property with the intention of continuing the10 | |
| 28 | 28 | property in its existing use and in an arm's length, bona fide sale and shall be determined11 | |
| 29 | 29 | in accordance with the specifications and criteria provided for in subsection (b) of Code12 | |
| 30 | 30 | Section 48-5-269."13 | |
| 31 | 31 | H. B. 281 | |
| 32 | 32 | - 1 - 25 LC 50 1020 | |
| 33 | 33 | SECTION 2. | |
| 34 | 34 | 14 | |
| 35 | 35 | This Act shall become effective upon its approval by the Governor or upon its becoming law15 | |
| 36 | 36 | without such approval.16 | |
| 37 | 37 | SECTION 3.17 | |
| 38 | 38 | All laws and parts of laws in conflict with this Act are repealed.18 | |
| 39 | 39 | H. B. 281 | |
| 40 | 40 | - 2 - |