CCH Tax Day Report
Legislation has been enacted that creates a new type of sales and use tax enterprise zone in Georgia. The enterprise zone will be permitted in an urban redevelopment area that has been chronically underdeveloped for 20 years or more and contains a redevelopment project having a minimum $400 million projected capital investment. Projects related to casino gambling do not qualify. The enterprise zones will remain in existence for 30 years or until the redevelopment project is complete and any revenue bonds issued are retired, whichever first occurs.
H.B. 342, Laws 2017, July 1, 2017