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 property tax exemptions, so as to provide for the optional determination by a taxpayer of the fair market value applicable to inventory for which a level 1 freeport exemption is sought for certain taxable years; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

Statutes affected:
LC 43 1820ER/a: 48-5-48.1
Sen ctee sub LC 43 1990ERS: 48-5-48.1, 48-5-48.2
HB 451/AP*: 48-5-48.1, 48-5-48.2