Bill > SB56

Introduced Session

AN ACT To amend Title 48 of the Official Code of Georgia Annotated, relating to revenue and taxation, so as to require the state revenue commissioner to contract with the Board of Trustees of the Employees' Retirement System of Georgia to offer certain county tax commissioners who are not eligible for any retirement system or county 401(k) or 457(b) plan the option to participate in a state administered deferred compensation plan; to provide for a limited state match of contributions; to provide for terms and conditions; to revise the terms "Internal Revenue Code" and "Internal Revenue Code of 1986" and thereby incorporate certain provisions of the federal law into Georgia law; to revise the rates of taxation on income on individuals, estates, and trusts; to revise certain annual determinations; to revise certain exemptions and deductions; to provide for an income tax credit for certain taxpayers; to revise the definition of "force majeure" to include a pandemic, as relative to tax credits for jobs associated with large-scale projects; to limit the applicability of such term; to extend the sunset date for a tax credit for certain medical preceptor rotations; to provide for the taxation of the sale or purchase of specified digital products, other digital goods, and digital codes; to provide for procedures, conditions, and limitations; to revise and provide for definitions and exemptions; to provide for related matters; to provide for effective dates and applicability; to repeal conflicting laws; and for other purposes. SB 56/AP

AI Summary

Committee Categories

Chuck Hufstetler (R)*,  Rick Williams (R)*,  Mitchell Scoggins (R), 

Effective Date 2023-05-02 (on 05/02/2023)

Official Document