3-1770-4827 
For Immediate Release: 
 
Georgia House of Representatives Public Information Office 
Room 131, State Capitol 30334 404-656-5082 1-800-282-5800 
 
March 6, 2003 
 
Thompson Proposes Tax Credits to Promote Redevelopment 
Aim is to Help Single Family Home Owners and Businesses 
Atlanta  Representative Curt Thompson (D-Norcross) has introduced a bill which provides tax credits for homeowners and businesses who do improvements or redevelop in designated community improvement districts (CID). 
Under HB 453, home owners could receive a $1,000 tax credit for qualified home improvements and businesses could receive a $500 tax credit for agreeing to locate in a CID. Commercial landowners would also receive a $500 tax credit for consenting to be in a CID. 
"The issue of redevelopment is very important in older suburbs across the state," said Thompson. "That includes areas in Gwinnett County such as around Hwy 78 and the I-85 corridor in my district. My hope is these tax credits will help promote the formation of CIDs like the proposed Gwinnett Mall CID which is in a portion of my district and a CID in the Jimmy Carter Boulevard corridor, that I am working with community leaders to start." 
Rep. Thompson has also introduced HR 260 which creates a study committee to examine ways for better utilizing Community Improvement Districts. The study committee would be composed of five members appointed by the Speaker of the House. If approved, it will meet this summer to bring redevelopment experts and CID leaders together to discuss ways to better utilize and expand this valuable redevelopment tool. 
HB 453 awaits action in the House Ways and Means Committee. HR 260 is now in the House Rules Committee. 
Rep. Thompson serves on Judiciary, Special Judiciary and Industrial Relations Committees. 
# # # For further information, contact Rep. Thompson @ 404-656-0177.