ATLANTA (February 29, 2012) – The Senate passed SB 371 on Tuesday, Feb. 28. Sen. Lindsey Tippins (R-Marietta) authored the bill that expands cooperative agreements between local governments and community improvement districts so that CID funds can be used for the improvement of airports and landing fields within the CID. CIDs are designated areas where the commercial property owners vote to impose a self tax. The revenue is collected and given to the board of directors elected by the property owners to augment existing services. SB 371 passed with a vote of 51 – 4.
“I’m thankful for the support of my fellow senators in passing SB 371,” said Sen. Tippins. “This legislation will help local communities in Georgia to gain a new source of funding to improve airports and landing fields during a time when economic hardships may prevent it.”
Georgia leads the nation in bank failures and not every county or city in Georgia enjoys the state’s AAA bond rating. These are factors that hamper attempts to secure funding for improvement projects like airports and landing fields. This bill will offer a new source of funding for local governments to enhance their communities. In addition, it can be an economic driver for Georgia by creating new construction and maintenance jobs and attracting businesses to improving neighborhoods.
SB 371 will continue in the legislative process and move to the House for a vote.
For Immediate Release:
February 29, 2012
For Information Contact:
Natalie Dale, Director
Kate Greer, Broadcast Specialist