Georgia 2025-2026 Regular Session

Georgia Senate Bill SB43 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	25 LC 44 2863
2	2	Senate Bill 43
3	3	By: Senators Summers of the 13th, Brass of the 6th, Goodman of the 8th, Watson of the 11th,
4	4	Anderson of the 24th and others
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	To amend Code Section 48-5-7.4 of the Official Code of Georgia Annotated, relating to
8	8	1
9	9	preferential assessment for bona fide conservation use property and bona fide residential2
10	10	transitional property, so as to increase the maximum acreage to qualify for assessment and3
11	11	taxation as a bona fide conservation use property; to provide for related matters; to provide4
12	12	for a contingent effective date and automatic repeal; to repeal conflicting laws; and for other5
13	13	purposes.6
14	14	BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
15	15	SECTION 1.8
16	16	Code Section 48-5-7.4 of the Official Code of Georgia Annotated, relating to preferential9
17	17	assessment for bona fide conservation use property and bona fide residential transitional10
18	18	property, is amended by revising the introductory language of subsection (a), the introductory11
19	19	language of paragraph (1) of subsection (a), subparagraphs (a)(1)(A) and (a)(1)(A.1), the12
20	20	introductory language of paragraph (2) of subsection (a), paragraph (3) of subsection (b), and13
21	21	subsections (e) and (r) as follows:14
22	22	S. B. 43
23	23	- 1 - 25 LC 44 2863
24	24	"(a) For purposes of this article, the term 'bona fide conservation use property' means
25	25	15
26	26	property described in and meeting the requirements of paragraph (1) or (2) of this16
27	27	subsection, as follows:17
28	28	(1) Not more than 2,000 acres
29	29	6,000 acres of tangible real property of a single person,18
30	30	the primary purpose of which is any good faith production, including but not limited to19
31	31	subsistence farming or commercial production, from or on the land of agricultural20
32	32	products or timber, subject to the following qualifications:21
33	33	(A) Such property includes the value of tangible property permanently affixed to the22
34	34	real property which is directly connected to such owner's production of agricultural23
35	35	products or timber and which is devoted to the storage and processing of such24
36	36	agricultural products or timber from or on such real property;25
37	37	(A.1) In the application of the limitation contained in the introductory language of this26
38	38	paragraph, the following rules shall apply to determine beneficial interests in bona fide27
39	39	conservation use property held in a family owned farm entity as described in28
40	40	division (1)(C)(iv) of this subsection:29
41	41	(i) A person who owns an interest in a family owned farm entity as described in30
42	42	division (1)(C)(iv) of this subsection shall be considered to own only the percent of31
43	43	the bona fide conservation use property held by such family owned farm entity that32
44	44	is equal to the percent interest owned by such person in such family owned farm33
45	45	entity; and34
46	46	(ii) A person who owns an interest in a family owned farm entity as described in35
47	47	division (1)(C)(iv) of this subsection may elect to allocate the lesser of any unused36
48	48	portion of such person's 2,000 acre 6,000 acre limitation or the product of such37
49	49	person's percent interest in the family owned farm entity times the total number of38
50	50	acres owned by the family owned farm entity subject to such bona fide conservation39
51	51	use assessment, with the result that the family owned farm entity may receive bona40
52	52	fide conservation use assessment on more than 2,000 acres 6,000 acres;"41
53	53	S. B. 43
54	54	- 2 - 25 LC 44 2863
55	55	"(2) Not more than 2,000 acres 6,000 acres of tangible real property, excluding the value42
56	56	of any improvements thereon, of a single owner of the types of environmentally sensitive43
57	57	property specified in this paragraph and certified as such by the Department of Natural44
58	58	Resources, if the primary use of such property is its maintenance in its natural condition45
59	59	or controlling or abating pollution of surface or ground waters of this state by storm-water46
60	60	runoff or otherwise enhancing the water quality of surface or ground waters of this state47
61	61	and if such owner meets the qualifications of subparagraph (C) of paragraph (1) of this48
62	62	subsection, subject to the following qualifications:"49
63	63	"(3) No property shall qualify as bona fide conservation use property if such current use50
64	64	assessment would result in any person who has a beneficial interest in such property,51
65	65	including any interest in the nature of stock ownership, receiving in any tax year any52
66	66	benefit of current use assessment as to more than 2,000 acres 6,000 acres. If any taxpayer53
67	67	has any beneficial interest in more than 2,000 acres 6,000 acres of tangible real property54
68	68	which is devoted to bona fide conservation uses, such taxpayer shall apply for current use55
69	69	assessment only as to 2,000 acres 6,000 acres of such land;"56
70	70	"(e) A single owner shall be authorized to enter into more than one covenant under this57
71	71	Code section for bona fide conservation use property, provided that the aggregate number58
72	72	of acres of qualified property of such owner to be entered into such covenants does not59
73	73	exceed 2,000 acres 6,000 acres. Any such qualified property may include a tract or tracts60
74	74	of land which are located in more than one county. A single owner shall be authorized to61
75	75	enter qualified property in a covenant for bona fide conservation use purposes and to enter62
76	76	simultaneously the residence located on such property in a covenant for bona fide63
77	77	residential transitional use if the qualifications for each such covenant are met. A single64
78	78	owner shall be authorized to enter qualified property in a covenant for bona fide65
79	79	conservation use purposes and to enter other qualified property of such owner in a covenant66
80	80	for bona fide residential transitional use."67
81	81	S. B. 43
82	82	- 3 - 25 LC 44 2863
83	83	"(r) Property which is subject to current use assessment under this Code section shall be
84	84	68
85	85	separately classified from all other property on the tax digest; and such separate69
86	86	classification shall be such as will enable any person examining the tax digest to ascertain70
87	87	readily that the property is subject to current use assessment under this Code section.71
88	88	Covenants shall be public records and shall be indexed and maintained in such manner as72
89	89	will allow members of the public to locate readily the covenant affecting any particular73
90	90	property subject to current use assessment under this Code section. Based on information74
91	91	submitted by the county boards of tax assessors, the commissioner shall maintain a central75
92	92	registry of conservation use property, indexed by owners, so as to ensure that the 2,000
93	93	76
94	94	acre 6,000 acre limitations of this Code section are complied with on a state-wide basis."77
95	95	SECTION 2.78
96	96	This Act shall become effective on January 1, 2027, only if an amendment to the79
97	97	Constitution increasing the maximum acreage to qualify for assessment and taxation as a80
98	98	bona fide conservation use property is ratified by the voters at the November, 2026,81
99	99	state-wide general election. If such an amendment is not so ratified, then this Act shall not82
100	100	become effective and shall stand repealed on January 1, 2027.83
101	101	SECTION 3.84
102	102	All laws and parts of laws in conflict with this Act are repealed.85
103	103	S. B. 43
104	104	- 4 -