Plain English Breakdown
The official summary confirms an effective date will be provided but does not list it, leaving the start time unknown based on this text alone.
HB1336: Airport Funding from Aircraft Taxes
This bill requires local tax jurisdictions in Georgia to dedicate at least half of the revenue collected from ad valorem taxes on apportioned aircraft values toward airport maintenance and operations.
What This Bill Does
- Requires that at least 50 percent of revenues collected from a local tax jurisdiction's levy of ad valorem taxes on its apportionment of aircraft be dedicated to airports within that jurisdiction.
- Directs these funds specifically for the maintenance and operations of those airports.
- Amends Article 12 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated regarding ad valorem taxation of airline companies.
- Provides a new definition related to this tax or its collection.
- Repeals any laws that conflict with these requirements.
Who It Names or Affects
- Local tax jurisdictions in Georgia
- Airline companies subject to ad valorem taxation on aircraft
Terms To Know
- Ad valorem tax
- A tax based on the assessed value of property, such as an airplane.
- Apportioned valuation
- The portion of an aircraft's total value assigned to a specific local area for taxing purposes by the commissioner.
Limits and Unknowns
- The official summary states it provides for an effective date and applicability, but does not specify what that date is.
- The source material mentions providing a definition but does not state exactly what term or concept is being defined.
- It is unclear how much money each jurisdiction currently collects from these taxes before this rule applies.