Select a different bill

HB 0997 - Ad valorem tax; timber equipment and timber products held by timber producers; provide exemption

Tracking Level: Passed
Sponsor: Sam Watson
Last Action: 5/10/2022 - Effective Date 2022-05-10
House Committee: Ways and Means
Senate Committee: Finance

Staff Analysis of the Legislation

GSBA-CWO Header 

SUMMARY:  LC 43 2167  LC 43 2338S

Provides for a statewide exemption from all ad valorem taxes for timber equipment. It adds definitions for timber equipment, timber producer, and timber products. It requires a statewide referendum on the November 2022 ballot.  The question would be:

Shall the Act be approved which grants a statewide exemption from ad valorem taxes for certain equipment used by timber producers in the production or harvest of timber?



If it receives a 2/3 vote in each chamber and is passed by voters, it would be effective January 1, 2023 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text