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Bill > HB463
GA HB463
GA HB463Ad valorem tax; certain senior citizens who volunteer with local governments; provide homestead exemption
summary
Introduced
02/13/2025
02/13/2025
In Committee
02/10/2026
02/10/2026
Crossed Over
03/04/2025
03/04/2025
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the imposition, rate, computation, exemptions, and credits relative to income taxes, so as to reduce the personal income tax rate; to revise provisions relative to annual reductions of the income tax; to reduce the rates of taxation on corporate and partnership income; to increase the amount of the standard deduction from state taxable income for individuals; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
AI Summary
This bill, concerning Georgia's income tax structure, aims to reduce tax rates for individuals, corporations, and partnerships, and increase the standard deduction for individuals. Specifically, it lowers the individual income tax rate from its current level, with scheduled reductions to 4.99% for the 2026 tax year, 4.49% for 2027, and a final rate of 3.99% starting in 2028, though these reductions can be delayed by one year if certain economic conditions are not met, such as insufficient revenue growth or a low balance in the Revenue Shortfall Reserve, which is a fund designed to cover unexpected decreases in state revenue. The bill also sets a flat tax rate of 4.99% for corporate and partnership income and significantly increases the standard deduction for individuals, raising it to $32,000 for married couples filing jointly and $16,000 for single filers or married individuals filing separately. These changes are set to take effect for taxable years beginning on or after January 1, 2026.
Committee Categories
Budget and Finance
Sponsors (7)
Shaw Blackmon (R)*,
Jon Burns (R)*,
Beth Camp (R)*,
Carl Gilliard (D)*,
Matt Hatchett (R)*,
Ron Stephens (R)*,
Blake Tillery (R),
Last Action
Senate Passed/Adopted By Substitute (on 02/12/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/70350 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/242101 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/235251 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/233871 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/232498 |
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