---
type: "Bill"
title: "Ad valorem tax; property; fair market value applicable to inventory; provisions"
description: "A BILL to be entitled an Act to amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to property tax exemptions, so as to provide for the optional determination by a taxpayer of the fair market value applicable to inventory for which a level 1 freeport exemption is sought for certain taxable years; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes."
jurisdiction: "us/states/ga"
legislature: "Georgia General Assembly"
session: "2021_22"
identifier: "HB 451"
citation: "Georgia HB 451 (2021_22)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Bruce Williamson", "Charles Martin", "David Knight", "Eddie Lumsden", "John Carson"]
version_count: 3
action_count: 17
vote_count: 1
first_action: "2021-02-11"
last_action: "2021-05-04"
source: "openstates"
source_identifier: "ocd-bill/9d818400-b16e-4bc5-948a-e649934662c1"
source_url: "http://webservices.legis.ga.gov/GGAServices/Legislation/Service.svc?wsdl"
source_hash: "2950f602938befa297071c2d8d500e70a73d4ed12cbfffcd9144f8ca063e80d7"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ga"]
---

# Georgia HB 451 (2021_22) — Ad valorem tax; property; fair market value applicable to inventory; provisions

A BILL to be entitled an Act to amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to property tax exemptions, so as to provide for the optional determination by a taxpayer of the fair market value applicable to inventory for which a level 1 freeport exemption is sought for certain taxable years; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **HB 451/AP*** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20212022/202492.pdf)
2. **LC 43 1820ER/a** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20212022/197556.pdf)
3. **Sen ctee sub LC 43 1990ERS** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20212022/200716.pdf)

## Votes

- PASSAGE — **159–0** (pass) · lower

## Sponsors

- Bruce Williamson — primary (person)
- Charles Martin — primary (person)
- David Knight — primary (person)
- Eddie Lumsden — primary (person)
- John Carson — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-02-11** House Hopper
- **2021-02-16** House First Readers `reading-1`
- **2021-02-17** House Second Readers `reading-2`
- **2021-03-03** House Committee Favorably Reported `committee-passage-favorable`
- **2021-03-05** House Third Readers `reading-3`
- **2021-03-05** House Passed/Adopted `passage`
- **2021-03-08** Senate Read and Referred `referral-committee`
- **2021-03-18** Senate Committee Favorably Reported By Substitute `committee-passage-favorable`
- **2021-03-22** Senate Read Second Time `reading-2`
- **2021-03-23** Senate Engrossed `passage`
- **2021-03-23** Senate Third Read `reading-3`
- **2021-03-23** Senate Passed/Adopted By Substitute `passage`
- **2021-03-31** House Agreed Senate Amend or Sub
- **2021-04-07** House Sent to Governor `executive-receipt`
- **2021-05-04** House Date Signed by Governor `executive-signature`
- **2021-05-04** Act 162 `executive-signature`
- **2021-05-04** Effective Date

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/9d818400-b16e-4bc5-948a-e649934662c1`. Confidence: reported (aggregated from official Georgia legislature records).