New Law May Give Tax Breaks to Georgia Amusement Parks

11:19 AM, Dec 31, 2012   |    comments
People react as they ride on Fuji-Q Highland amusement park world's steepest roller coaster 'Takabisha' at Fujiyoshida city in Yamanashi prefecture on July 8, 2011. The Takabisha stands 43m tall and is 1,000m in distance and will open at the park on the foothills of Mt. Fuji on July 16. (Photo: YOSHIKAZU TSUNO/AFP/Getty Images)
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ROSSVILLE, Ga. (AP) - A northwest Georgia amusement park hopes to open a new water park with a tax break under a new Georgia law.

The Chattanooga Times Free Press reports that the Lake Winnepesaukah Amusement Park hopes to break ground in January on the new five-acre water park just south of the Tennessee-Georgia line.

Park officials also hope to know by then whether they'll get a $198,050 tax break on the water park's equipment under Senate Bill 386, a new Georgia law that exempts projects of "regional significance" from state and local use taxes.

Chickamauga Republican state Sen. Jeff Mullis says there's a chance that the water park could be the first project to get the tax break.

The park, also known as Lake Winnie, is just south of Chattanooga, Tenn.

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Information from: Chattanooga Times Free Press, http://www.timesfreepress.com

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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