Ga. Comp. R. & Regs. R. 560-11-11-.10 - Penalty for Breach

(1) If a breach should occur during the QFLP Covenant period then a penalty shall be imposed by the Local Board of Tax Assessors.

(a) The method for calculating the amount of the penalty owed is set forth in O.C.G.A § 48-5-7.7(m).

(b) Penalties and interest imposed pursuant to O.C.G.A. § 48-5-7.7, shall constitute a lien against that portion of the property which is subject of the original covenant, and shall be collected in the same manner as unpaid ad valorem taxes.

(2) If all or part of the tract subject of the original QFLP Covenant is transferred during the covenant period to another qualified owner, and following such transfer the acquiring owner and/or transferring owner cause a breach of the covenant, then:

(a) Any county affected by the breach must seek recovery of penalties and interest from the breaching party by any judicial means including, but not limited to, foreclosure of the breaching party's property.

(3) Activities listed in O.C.G.A. § 48-5-7.7(q) shall not constitute a breach of the QFLP Covenant.

(4) If a Contiguous tract is subject to a QFLP Covenant in multiple counties then a breach occurring in any of the counties where the Contiguous tract is located shall constitute a breach of the entire Contiguous tract. The owner of the Contiguous tract shall be assessed all penalties and interest resulting from the breach of the QFLP Covenant.

(5) If a breach occurs solely as the result of a Permissible Breach then no penalty shall be assessed but the QFLP Covenant will be terminated at the end of the digest year.

Notes

Ga. Comp. R. & Regs. R. 560-11-11-.10

O.C.G.A. § 48-5-7.7.

Original Rule entitled "Penalty for Breach" adopted as ER. 560-11-11-0.40-.10. F. and eff. May 22, 2009, the date of adoption. Amended: Permanent Rule of same title adopted. F. June 26, 2009; eff. July 16, 2009. Amended: F. Jun. 30, 2011; eff. July 20, 2011. Amended: F. Dec. 16, 2024; eff. Jan. 5, 2025.