SUMMARY:

            This bill would amend Part 1 of Article 1 of Chapter 8 of Title 48 of the O.C.G.A. to extend sales tax exemption for property used in direct connection with the construction of certain symphony halls.

REQUIREMENTS:

• Exemption from sales taxes would extend until September 1, 1015, 6 years beyond the current exemption.
• The construction must cost $200 million or more to qualify.

NOTES:

• Though this extension of the existing law would benefit the entities that pay for such construction and may help pay for some jobs in construction in the state, it is yet another tax exemption that, added with all the other existing and proposed exemptions, add up to substantial losses of state revenue, which lead to subsequent cuts in vital state services.