HB429: HB429 Ad valorem tax; exempt vehicles owned by a natural person for which a title was issued before March 1, 2013

25 LC 50 1190S House Bill 429 (COMMITTEE SUBSTITUTE) By: Representatives Wilkerson of the 38 th, Prince of the 132 nd, Seabaugh of the 34 th, Blackmon of the 146th, Smith of the 41st, and others A BILL TO BE ENTITLED AN ACT To amend Part 2 of Article 10 of Chapter 5 of Title 48 of the O fficial Code of Georgia1 Annotated, relating to ad valorem taxation of motor vehicles, s o as to exempt from ad2 valorem taxation motor vehicles owned by a natural person for w hich a title was issued in3 this state before March 1, 2013; to provide f or related matters; to provide for an effective4 date and applicability; to repeal conflicting laws; and for other purposes.5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6 SECTION 1.7 Part 2 of Article 10 of Chapter 5 of Title 48 of the Official C ode of Georgia Annotated,8 relating to ad valorem taxation of motor vehicles, is amended by revising subsection (a) of9 Code Section 48-5-471, relating to motor vehicles subject to ad valorem taxation, as follows:10 "(a) Every motor vehicle owned in this state by a natural person is, except as specifically11 provided in Code Section 48-5-472.1, subject to ad valorem taxation by the various tax12 jurisdictions authorized to impose an ad valorem tax on propert y as provided in Code13 Section 48-5-473; provided, however, that under no circumstances shall such ad valorem14 taxation be collected more than one time per calendar year with respect to the same motor15 vehicle. Every vehicle owned in this state by an entity other than a natural person is,16 H. B. 429 (SUB) - 1 - 25 LC 50 1190S except as specifically provided in Code Section 48-5-472, subject to ad valorem taxation17 by the various tax jurisdictions authorized to impose an ad val orem tax on property as18 provided in Code Section 48-5-473; provided, however, that under no circumstances shall19 such ad valorem taxation be collected more than one time per calendar year with respect20 to the same motor vehicle. Taxes shall be charged against the owner of the property, if21 known, and, if unknown, against the specific property itself."22 SECTION 2.23 Said part is further amended by adding a new Code section to read as follows:24 "48-5-472.1.25 Motor vehicles owned by a natural person for which a title was issued in this state before26 March 1, 2013, shall constitute a separate subclassification of motor vehicles within the27 motor vehicle classification of tangible property for ad valore m taxation purposes. The28 procedures prescribed in this part for returning motor vehicles for ad valorem taxation,29 determining the applicable rates for taxation, and collecting the ad valorem taxes imposed30 on motor vehicles shall not apply to such motor vehicles. Moto r vehicles owned by a31 natural person for which a title was issued in this state before March 1, 2013, shall not be32 returned for ad valorem taxation, shall not be taxed, and no taxes shall be collected on such33 motor vehicles."34 SECTION 3.35 This Act shall become effective on January 1, 2027, and shall b e applicable to all taxable36 years beginning on or after such date.37 SECTION 4.38 All laws and parts of laws in conflict with this Act are repealed.39 H. B. 429 (SUB) - 2 -