Ad valorem tax; assessment of real property purchased or acquired by certain business enterprises at 100 percent of its fair market value; provide

A BILL to be entitled an Act to amend Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad valorem taxation of property, so as to provide for the assessment of real property purchased or acquired by certain business enterprises at 100 percent of its fair market value; to require that proceeds from taxation of such property be used to reduce the ad valorem tax bill on homesteads in the same tax jurisdiction as such property; to provide for penalties; to provide for certification of ownership; to provide for forms and applications; to provide for definitions; to provide for contingent effectiveness and automatic repeal; to provide for related matters; to repeal conflicting laws; and for other purposes.