A BILL to be entitled 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 exemption, so as to provide for a statewide homestead exemption from ad valorem taxes in an amount equal to any amount by which the current year assessed value of a homestead exceeds the inflation rate from the adjusted base year value of such homestead; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for approval by local governing authorities; to provide for related matters; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, and automatic repeal; to provide for contingent repeal; to repeal conflicting laws; and for other purposes.

Statutes affected:
LC 44 2634/a: 48-5-44.2, 48-5-311, 48-5-40, 48-5-50.1
LC 50 0786S/hs: 48-5-32.1, 48-5-44.2, 48-5-311, 48-5-40, 48-5-50.1
LC 50 0786S/hcs: 48-5-32.1, 48-5-44.2, 48-5-311, 48-5-40, 48-5-50.1
Sen Ctee sub LC 50 0851S: 48-5-32.1, 48-5-32, 48-5-299, 48-5-311, 48-5-306, 9-11-5, 48-5-44.2, 48-5-40, 48-5-50.1