§ 1. Definitions.

For purposes of this Act, the term:

(1)

"General law exemption" means that homestead exemption from independent school district ad valorem taxes granted by O.C.G.A. § 48-5-52 to persons 62 years of age or over.

(2)

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

(3)

"Income" means income for purposes of computing net taxable income under O.C.G.A. § 48-7-1 et seq., relating to income taxes, including but not limited to any federal old-age, survivor, or disability insurance benefits or benefits received from any retirement or pension fund when such benefits are based on contributions made thereto by that resident or that resident's spouse or other family member residing at the homestead.