| 1 | 1 | | 25 LC 50 0963 |
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| 2 | 2 | | House Bill 932 |
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| 3 | 3 | | By: Representatives Sainz of the 180 |
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| 4 | 4 | | th |
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| 5 | 5 | | , Ballard of the 147 |
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| 6 | 6 | | th |
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| 7 | 7 | | , Bonner of the 73 |
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| 8 | 8 | | rd |
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| 9 | 9 | | , Newton of |
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| 10 | 10 | | the 127 |
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| 11 | 11 | | th |
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| 12 | 12 | | , DeLoach of the 167 |
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| 13 | 13 | | th |
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| 14 | 14 | | , and others |
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| 15 | 15 | | A BILL TO BE ENTITLED |
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| 16 | 16 | | AN ACT |
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| 17 | 17 | | To amend Code Section 48-7-40.1 of the Official Code of Georgia Annotated, relating to tax |
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| 18 | 18 | | 1 |
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| 19 | 19 | | credits for business enterprises in less developed areas, so as to provide for certain military2 |
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| 20 | 20 | | zones that qualify for designation as less developed areas during a limited period of time; to3 |
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| 21 | 21 | | provide for related matters; to repeal conflicting laws; and for other purposes.4 |
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| 22 | 22 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5 |
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| 23 | 23 | | SECTION 1.6 |
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| 24 | 24 | | Code Section 48-7-40.1 of the Official Code of Georgia Annotated, relating to tax credits for7 |
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| 25 | 25 | | business enterprises in less developed areas, is amended by revising subsection (c) as8 |
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| 26 | 26 | | follows:9 |
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| 27 | 27 | | "(c) The commissioner of community affairs, and the commissioner of economic10 |
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| 28 | 28 | | development in areas qualifying under the provisions of paragraphs (1), (3), and (4) of this11 |
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| 29 | 29 | | subsection, also shall be authorized to include in the designation provided for in12 |
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| 30 | 30 | | subsection (b) of this Code section:13 |
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| 31 | 31 | | (1) Any area composed of ten or more contiguous census tracts which, in the opinion of14 |
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| 32 | 32 | | the commissioner of community affairs and the commissioner of economic development,15 |
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| 33 | 33 | | undergoes a sudden and severe period of economic distress caused by the closing of one16 |
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| 34 | 34 | | or more business enterprises located in such area;17 |
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| 35 | 35 | | H. B. 932 |
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| 36 | 36 | | - 1 - 25 LC 50 0963 |
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| 37 | 37 | | (2) Any area composed of one or more census tracts adjacent to a federal military |
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| 38 | 38 | | 18 |
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| 39 | 39 | | installation where pervasive poverty is evidenced by a 15 percent poverty rate or greater19 |
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| 40 | 40 | | as reflected in the most recent decennial census; provided, however, that the subsequent20 |
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| 41 | 41 | | redrawing or alteration of census tracts in a manner which results in an area no longer21 |
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| 42 | 42 | | being in a census tract adjacent to a federal military installation shall not disqualify an22 |
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| 43 | 43 | | area which has previously qualified under this paragraph if the area continues to have23 |
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| 44 | 44 | | pervasive poverty as described in this paragraph;24 |
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| 45 | 45 | | (2.1) Any census tract in a county that contains a federal military installation with a25 |
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| 46 | 46 | | garrison of at least 5,000 federal or military personnel combined and also contains an26 |
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| 47 | 47 | | industrial park that is owned and operated by a governmental entity;27 |
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| 48 | 48 | | (2.2) For 2025 and 2026, any census tract in a county that contains a federal military |
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| 49 | 49 | | 28 |
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| 50 | 50 | | installation with a garrison of at least 5,000 federal or military personnel;29 |
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| 51 | 51 | | (3) Any area composed of one or more contiguous census tracts which, in the opinion30 |
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| 52 | 52 | | of the commissioner of community affairs and the commissioner of economic31 |
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| 53 | 53 | | development, is or will be adversely impacted by the loss of one or more jobs, businesses,32 |
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| 54 | 54 | | or residences as a result of an airport expansion, including noise buy-outs, or the closing33 |
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| 55 | 55 | | of a business enterprise which, in the opinion of the commissioner of community affairs34 |
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| 56 | 56 | | and the commissioner of economic development, results or will result in a sudden and35 |
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| 57 | 57 | | severe period of economic distress; or36 |
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| 58 | 58 | | (4) Any area which is within or adjacent to one or more contiguous census block groups37 |
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| 59 | 59 | | with a poverty rate of 15 percent or greater as determined from data in the most current38 |
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| 60 | 60 | | United States decennial census, where the area is also included within a state enterprise39 |
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| 61 | 61 | | zone pursuant to Chapter 88 of Title 36 or where a redevelopment plan has been adopted40 |
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| 62 | 62 | | pursuant to Chapter 61 of Title 36 and which, in the opinion of the commissioner of41 |
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| 63 | 63 | | community affairs and the commissioner of economic development, displays pervasive42 |
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| 64 | 64 | | poverty, underdevelopment, general distress, and blight.43 |
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| 65 | 65 | | H. B. 932 |
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| 66 | 66 | | - 2 - 25 LC 50 0963 |
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| 67 | 67 | | No designation made pursuant to this subsection shall operate to displace or remove any |
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| 68 | 68 | | 44 |
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| 69 | 69 | | other area previously designated as a less developed area. Notwithstanding any provision45 |
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| 70 | 70 | | of this Code section to the contrary, in areas designated as suffering from pervasive poverty46 |
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| 71 | 71 | | under this subsection, job tax credits shall be allowed as provided in this Code section, in47 |
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| 72 | 72 | | addition to business enterprises, to any lawful business."48 |
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| 73 | 73 | | SECTION 2.49 |
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| 74 | 74 | | All laws and parts of laws in conflict with this Act are repealed.50 |
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| 75 | 75 | | H. B. 932 |
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| 76 | 76 | | - 3 - |
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