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Can you summarize GACO 36-88-6?
Enterprise Zones > Criteria for enterprise zone.
Short Summary
This legal document outlines the criteria for designating an area as an enterprise zone. To be designated as an enterprise zone, a nominated area must meet at least three of the five specified criteria or the criteria specified in subsection (g) of this Code section. The governing body must use data from the most current United States decennial census and other information published by relevant authorities to determine if an area suffers from poverty, unemployment, general distress, or underdevelopment. The document provides specific criteria and methods for establishing pervasive poverty, unemployment, general distress, and underdevelopment. It also mentions the evidence required for general blight within the nominated area. Additionally, the document introduces an alternative criteria for designation under subsection (g), which requires the nominated area to be included in an urban redevelopment area and contain a redevelopment project with a minimum capital investment of $400 million. The document further discusses the benefits and provisions related to the designation of an enterprise zone, including exemptions from sales and use tax, permitted practices for sales price variation, and the assessment and collection of annual enterprise zone infrastructure fees. It is important to note that this document does not apply to projects involving or related to casino gambling.
Whom does it apply to?
Local governing bodies
What does it govern?
Criteria for designating an area as an enterprise zone
What are exemptions?
This document does not specify any exemptions.
What are the Penalties?
No penalties are mentioned in this document.
Jurisdiction
Georgia