Georgia HB1209: Sales and use tax; purchases of tangible property and construction materials used for or in the construction and furnishing of certain buildings; provide exemption

What the bill says

To amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions relative to state sales and use taxes, so as to provide for a sales and use tax exemption for purchases of tangible property and construction materials used for or in the construction and furnishing of certain buildings; to provide for limitations on the amount of credits to be issued; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

From the introduced text:

A BILL TO BE ENTITLED To amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions relative to state sales and use taxes, so as to provide for a sales and use tax exemption for purchases of tangible property and construction materials used for or in the construction and furnishing of certain buildings; to provide for limitations on the amount of credits to be issued; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes. BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: SECTION 1. Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions relative to state sales and use taxes, is amended by striking "or" at the end of paragraph (104), by replacing the period at the end of paragraph (105) with "; or", and by adding a new paragraph to read as follows: "(105.1)(A) Notwithstanding any provision of Code Section 48-8-63 to the contrary, the sale or use of tangible property and construction material used for or in the construction and furnishing of buildings located at any wharf lot and improvements that are located between 1,500 feet and 5,000 feet of a state owned convention or meeting H. B. 1209 LC 59 0359S/AP facility with between 150,000 square feet and …