2020 Georgia Code
Title 48 - Revenue and Taxation
Chapter 6 - Taxation of Intangibles
Article 3 - Intangible Recording Tax
§ 48-6-74. Distribution of Revenues From Intangible Recording Tax; Procedure When Real Property Located in More Than One County

All revenues derived from the intangible recording tax imposed by this article including, but not limited to, revenues from any imposition of the tax upon intangible trust property shall be distributed among the state, county, and municipality in which the real property is located in the same proportion that revenues derived from the intangible taxes imposed by Article 3 of this chapter are distributed. If the real property is located in more than one county, the appropriate portion of the intangible recording tax shall be distributed equitably by the commissioner among the affected counties.

(Ga. L. 1953, Nov.-Dec. Sess., p. 379, § 17; Code 1933, § 91A-3214, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1990, p. 1843, § 4; Ga. L. 1996, p. 117, § 7; Ga. L. 1996, p. 130, § 7; Ga. L. 1997, p. 523, § 3.)

- Ga. L. 1996, p. 117, § 9, provides that the Act shall not repeal any provision of Ga. L. 1996, p. 130 if Ga. L. 1996, p. 130 is passed at the 1996 regular session of the General Assembly, becomes law, and becomes effective.

Ga. L. 1996, p. 130, § 9, not codified by the General Assembly, provides, in part, that the provisions of the Act shall not repeal but shall supersede and control over any conflicting provisions of any other Act enacted at the 1996 regular session, including, but not limited to, Ga. L. 1996, p. 117.

Ga. L. 1996, p. 130, § 9, not codified by the General Assembly, provides that the 1996 amendment enacted by that Act becomes effective on January 1, 1997, and shall be applicable to all taxable years beginning on or after January 1, 1996, upon the ratification of House Resolution 734 (Ga. L. 1996, p. 1665) at the November 1996 general election; if such resolution is not ratified, the amendment by that Act shall not become effective and shall stand repealed on January 1, 1997. That resolution passed at the November 1996 general election, so the amendment took effect on January 1, 1997.

Intangible property tax on long-term notes secured by real estate is not unconstitutional. 1970 Op. Att'y Gen. No. 70-56.

- Distribution of the intangible tax levied under the provisions of Ga. L. 1953, Nov.-Dec. Sess., p. 379 (see now O.C.G.A. Arts. 2 [repealed] and 3, Ch. 6, T. 48) will be based solely on the location of the property. 1954-56 Op. Att'y Gen. p. 581.

RESEARCH REFERENCES

C.J.S.

- 81A C.J.S., States, §§ 283, 291. 85 C.J.S., Taxation, §§ 1815, 1823.