Bill > HB365

This bill establishes the Strategic Industrial Development Enhancement (SIDE) Tax Credit Act, which creates a new tax credit program for businesses in Georgia that invest in industrial infrastructure and economic development projects. The bill allows eligible entities (businesses incorporated and located in Georgia) to claim tax credits for qualified economic development expenditures and initial infrastructure expenditures, specifically targeting projects located in industrial parks, economic development zones, or near railroad terminals. Companies can receive a 10% tax credit for economic development expenditures and a 50% credit for initial infrastructure expenditures, with maximum aggregate credits of $8 million per project for development expenses and $4 million for infrastructure expenses. The total tax credits statewide are capped at $75 million annually for taxable years between 2026 and 2031. Unused credits can be carried forward for up to three years and can also be transferred or sold to other Georgia taxpayers. To qualify, projects must be expected to create substantial economic benefits and jobs, and must receive approval from the Department of Community Affairs. The tax credit program will automatically expire on January 1, 2032, providing a time-limited incentive for industrial development in the state.

Budget and Finance

https://www.legis.ga.gov/legislation/70127