ATLANTA — The Georgia Senate unanimously passed a mold-use tax exemption March 13, clearing the way for an expected signature on the legislation from Gov. Roy Barnes. The bill, identical to legislation that passed the House unanimously Feb. 24, will exempt molds from a sales and use tax that varies from 4-7 percent, at the discretion of local governments.
The state's plastics industry argued that the tax hinders its competitiveness.
The legislation, which includes many other tax incentives, first was proposed by Barnes, according to Rudy Underwood, director of the southern region for the American Plastics Council.
The bill phases in the tax break, and limits the exemption to the first $150,000 of the mold's value.