Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Committee approves bill to tighten rules for enterprise zones and cap zones in urban redevelopment areas
Summary
Floor leader Seba presented HB1129 on behalf of Governor Kemp; the bill clarifies the Department of Community Affairs' authority over enterprise-zone nominations, allows executive-branch approval of state sales/use tax exemptions in enterprise zones, limits concurrent EZs to four per urban redevelopment area, and clarifies bond-pledge restrictions; the committee passed the bill after questions about local control and consultation with Centennial Yards.
Floor Leader Seba presented House Bill 1129 on behalf of Governor Kemp, with Calvin Sorby (deputy director for policy, Office of the Governor) available to answer questions. Seba said the bill strengthens protections for enterprise zones, clarifies the Department of Community Affairs commissioner's authority under subsection (g) of Code Section 36-88-6, provides executive-branch approval for state sales and use tax exemptions tied to an EZ, sets a maximum of four concurrent EZs under subsection (g) in an urban redevelopment area, and clarifies that the principal amount of a revenue bond pledge cannot be used to return capital investment to private investors.
Representative Valadier asked whether a statewide cap might unduly limit municipalities with distinct redevelopment needs. Thomas from the governor's office (DCA) replied that currently only Centennial Yards in Atlanta is an enterprise zone and that the cap was set at four per urban redevelopment area as a compromise; Thomas said DCA had spoken with Centennial Yards and that Centennial Yards would continue to be able to exempt state and local sales and use tax for the next 30 years.
After questions and no further discussion, the committee moved to a voice vote. Chairman Anderson announced the motion carries and the bill passed the committee.
