Bill > HB445

This bill makes several changes to Georgia's tax laws, focusing on property tax assessment notices and introducing a new tax credit for emergency power generation. First, the bill revises the language required in property tax assessment notices, expanding taxpayers' appeal options. Specifically, property owners can now choose to appeal to a hearing officer for nonhomestead properties valued over $500,000, wireless properties with an aggregate value over $500,000, and other taxable personal property with an aggregate value over $200,000. The bill establishes detailed procedures for these hearing officer reviews, including qualifications for hearing officers. Additionally, the bill creates a new tax credit for convenience stores and skilled nursing facilities that purchase emergency power generation components between July 1, 2025, and December 31, 2026. The tax credit is limited to $5,000 per year, can be claimed over five years, and is available for up to five convenience stores per taxpayer. The total aggregate tax credit is capped at $5 million, and taxpayers must apply for preapproval from the department. The bill's provisions are motivated by the desire to improve emergency preparedness, particularly in response to potential weather-related disruptions, and will expire on December 31, 2031.

Budget and Finance

https://www.legis.ga.gov/legislation/70317