Bill
Bill > HB1116
GA HB1116
GA HB1116Income tax credit; rehabilitation of historic structures; home portion; extend sunset date
summary
Introduced
02/01/2024
02/01/2024
In Committee
03/21/2024
03/21/2024
Crossed Over
02/29/2024
02/29/2024
Passed
Dead
03/28/2024
03/28/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the imposition, rate, computation, exemptions, and credits relative to income taxes, so as to decrease the aggregate cap for the tax credit for the rehabilitation of historic homes; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
AI Summary
This bill amends the Georgia tax code to decrease the aggregate cap for the tax credit on the rehabilitation of historic homes from $5 million to $2.5 million per year from 2023 through 2027. However, it maintains the $30 million aggregate annual cap on tax credits for the rehabilitation of other certified historic structures during that period. The bill also repeals the tax credit for historic home rehabilitation entirely after 2027.
Committee Categories
Budget and Finance
Sponsors (6)
Shaw Blackmon (R)*,
Debbie Buckner (D)*,
Scott Holcomb (D)*,
Penny Houston (R)*,
Ron Stephens (R)*,
Chuck Hufstetler (R),
Last Action
Senate Read Second Time (on 03/21/2024)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Public Lands and Water Management
- ‐ National Parks, Memorials, Historic Sites, and Recreation
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/66624 | 02/02/2024 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/228212 | 03/22/2024 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/226074 | 03/01/2024 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/224527 | 02/21/2024 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/222750 | 02/02/2024 |
Loading...