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Committee OKs bill tightening rules for enterprise zones, limits zones per urban redevelopment area
Summary
House Bill 1129 would add guardrails to Georgia's enterprise zone program, limit the number of enterprise zones in an urban redevelopment area to four, and clarify revenue bond rules; the committee reported the bill favorably after questions about local control and current coverage (Centennial Yards).
Gov. floor leader Seba presented House Bill 1129 as legislation to add safeguards to enterprise zones and to ensure incentives are used for redevelopment of distressed property. He told the committee the bill would provide for executive-branch approval of state sales and use tax exemptions for zones, clarify Department of Community Affairs authority to designate zones, cap simultaneously existing enterprise zones in an urban redevelopment area at four, and limit use of revenue bond principal to prevent returning capital investment to private investors.
Rep. Valadier pressed whether a statewide cap might prevent localities from tailoring redevelopment to local needs. Thomas Corby of the governor's office replied that only one enterprise zone currently exists in the state—Centennial Yards in Atlanta—and that the cap was negotiated as a compromise; he said cities could still have more than one urban redevelopment area. After questions, the committee voted by voice to report the bill favorably.
The transcript does not include a fiscal note or a roll-call vote.
