Revenue and taxation; level 1 freeport exemptions for certain goods in inventory for electric utilities; provide

Summary

The bill amends Georgia’s tax code to let electric utilities and other manufacturers claim a tax‑free status for inventory of raw materials, work‑in‑process, finished goods and utility equipment held for use in the state. Counties or municipalities can also grant ad valorem tax exemptions for these items, subject to voter approval, with required inventory summaries and open records. The exemption lasts up to 12 months and follows a first‑in‑first‑out accounting method.

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