Bill > HB212

This bill establishes a clean energy production tax credit for eligible persons in Georgia, providing a 3-cent per kilowatt-hour tax credit for electricity produced at qualified facilities with zero greenhouse gas emissions, starting from January 1, 2026. A qualified facility must be located in Georgia, placed in service after July 1, 2025, and have a greenhouse gas emissions rate of zero, with the credit applicable for 10 years from the facility's initial service date. The tax credit can be used against income tax liability, with unused credits allowed to be carried forward for three years, and uniquely, can be transferred or sold to other Georgia taxpayers for at least 60% of its value. To qualify, facilities must meet specific emissions standards defined by the Environmental Protection Division, which will annually publish greenhouse gas emission rates. The bill includes strict documentation requirements, with eligible persons needing to maintain detailed records and provide necessary information to the state department. Importantly, the credit cannot be used against prior years' tax liability, and transfers do not extend the original credit's carry-forward period. The legislation aims to incentivize clean energy production by offering a financial benefit to businesses developing zero-emission electricity generation facilities in Georgia.

Budget and Finance

https://www.legis.ga.gov/legislation/69727