§ 1. [Definitions.]

For purposes of this act [article], the term:

(1)

"Ad valorem taxes" means all ad valorem taxes levied by, for or on behalf of the Jackson County School District, including, but not limited to, taxes to retire school bond indebtedness.

(2)

"Homestead" means homestead as defined and qualified in O.C.G.A. § 48-5-40, as amended.

(3)

"Net income" means Georgia taxable net income for state income tax purposes, except net income shall not include income received as retirement, survivor or disability benefits under the federal Social Security Act or under any other public or private retirement, disability or pension system, except such income which is in excess of the maximum amount authorized to be paid to an individual and his or her spouse under the federal Social Security Act. Income from such sources in excess of such maximum amount shall be included as net income for the purposes of this act [article].

(2002 Ga. Laws, page 4358)