Ga. Comp. R. & Regs. R. 391-2-3-.04 - Annual Leave Rate Adjustment

(1) Purpose. The purpose of this rule is to establish the procedure pursuant to which the Coastal Marshlands Protection Committee will adjust the annual rental fee per acre for leasing state owned marshland and waterbottoms.

(2) Procedures for Adjusting Marina Lease Rate.

(a) The annual rental fee per acre for leasing state owned marshland and waterbottoms for 2009 is one thousand dollars ($1,000.00).

(b) Beginning in 2010 and using the 2009 annual rental fee per acre as a base, the Coastal Marshlands Protection Committee shall annually adjust the amount of the annual rental fee per acre for leasing state owned marshland and waterbottoms by the rate of change (inflation or deflation) in the Consumer Price Index - All Urban Consumers Less Food and Energy as reported by the Bureau of Labor Statistics of the United States Department of Labor for the most recent calendar year.

(c) The Coastal Marshlands Protection Committee shall determine the adjustment to the annual rental fee per acre for state owned marshland and waterbottoms on or before May 1 of each calendar year.

Notes

Ga. Comp. R. & Regs. R. 391-2-3-.04

O.C.G.A. Title 12, O.C.G.A. Sec. 12-5-287.

Original Rule entitled "Appeal and Enforcement Procedures" adopted as R. 391-4-12-.04. F. Jan. 15, 1975; eff. Feb. 4, 1975. Repealed: New Rule of same title renumbered as R. 391-2-3-.04. F. Dec. 28, 1979; eff. Jan. 17, 1980. Repealed: F. June 26, 1992; eff. July 16, 1992. Amended: New Rule entitled "Annual Lease Rate Adjustment" adopted. F. Jan. 29, 2010; eff. Feb. 18, 2010.