House approves tax break for yacht repairs

[private]The House of Representatives voted 152-14 to pass legislation Thursday — HB 125 — that will provide a tax break for repairs and renovations to the bigger yachts.

The bill, sponsored by Rep. Ron Stephens (R-Savannah), would grant a sales tax exemption on the parts and engines purchased for the renovation of a yacht anytime the total cost exceeded $500,000.

The bill is similar to a tax break already granted to Gulfstream for the parts it uses to repair corporate jets.

The only lawmaker to speak out against the bill was Rep. Michele Henson (D-Stone Mountain), who said the state was giving up a revenue source when the money could be used to pay for mental health services and pay raises for DFCS employees.

HB 125 now moves to the Senate for consideration.

The House also approved HB 160, which would create an advisory council called the Georgia Commission on Transit Governance and Funding.

The commission would be empowered to “study and assess the needs for, potential methods of funding of, and means of providing a system of mass transportation and mass transportation facilities for any one or more metropolitan areas in this state.”

The vote to pass HB 160 was 166-1, with only Rep. Matt Gurtler (R-Tiger) voting no.

© 2017 by The Georgia Report


Tags: transit study commission , yacht tax break