Bill > SB187

This bill increases the maximum state income tax credit for qualified caregiving expenses from $150 to $500 for Georgia taxpayers. The tax credit can be used to offset a taxpayer's state income tax liability, but any unused credit cannot be carried forward to future tax years or applied to past tax years. The bill will become effective on July 1, 2025, and will apply to all taxable years beginning on or after January 1, 2025. While the bill does not provide details about what constitutes "qualified caregiving expenses," it suggests the credit is designed to provide financial relief to taxpayers who incur certain caregiving costs, potentially for dependents, elderly family members, or individuals with disabilities. The increase in the tax credit amount could help offset some of the financial burden associated with caregiving responsibilities.

Budget and Finance

https://www.legis.ga.gov/legislation/70401