Bill > HB169

This bill, known as the "Georgia Small Business Resiliency Act," creates a new tax credit for small businesses in Georgia that provide certain health benefits to their employees. Specifically, a "qualified taxpayer," defined as a business with fewer than 50 employees that offers at least ten paid vacation and personal necessity days, paid parental leave, access to a health savings account, and an "individual coverage health reimbursement arrangement" (a type of health plan established under federal regulations), can claim a tax credit. To qualify, the business must contribute at least $200 per month per employee to this arrangement, and this contribution must be at least as much as what they contributed to any employer-sponsored health plan in the previous year. The credit amount decreases over five years, starting at $600 per employee and reducing to $200 per employee by the fifth year, with a total annual cap of $10 million for all businesses. Businesses must apply for preapproval by October 1st of the preceding year, and the state will issue preapproval certificates by November 1st. If the business is a pass-through entity, the credit can be passed on to its members, shareholders, or partners. The credit cannot exceed the business's income tax liability and cannot be carried forward or back. This new tax credit provision will be in effect until December 31, 2030, and becomes applicable for taxable years beginning on or after January 1, 2026.