Georgia Legislative Watch

HR421 - Real estate transfer tax and intangible recording tax; increases; authorize - CA
Sponsored by: Holmes,Bob 61st

A RESOLUTION proposing an amendment to the Constitution so as to authorize the General Assembly by general law to provide for increases in the state real estate transfer tax and the state intangible recording tax; to provide that the General Assembly by general law may allocate the revenue from such increases to the Georgia Housing Trust Fund, as provided by law, for the specified purpose of assisting low and moderate income citizens of this state in obtaining and maintaining affordable housing; to provide that funds deposited in such trust fund shall not lapse; to provide for the submission of this amendment for ratification or rejection; and for other purposes.