Bill > HB112

This bill establishes a one-time tax credit for Georgia individual taxpayers who filed income tax returns for both 2023 and 2024, providing automatic refunds based on the taxpayer's filing status. Qualified taxpayers will receive a credit equal to the lesser of their 2023 tax liability or a fixed amount: $250 for single or married filing separately, $375 for head of household, and $500 for married filing jointly. The credit is only available to individuals who filed their returns by the due date and does not include nonresident aliens, dependents (with an exception for those with earned income), estates, or trusts. The refund will be automatically issued when the 2024 tax return is filed, either electronically or by check, and will first be applied to any outstanding tax liabilities. Importantly, the refund will not be considered taxable income, will not accrue interest, and is subject to potential debt collection. The Georgia Department of Revenue is authorized to create rules for implementing this tax credit, which will become effective upon the Governor's approval or when it becomes law.

Budget and Finance

https://www.legis.ga.gov/legislation/69465