Bill > HB519

This bill establishes a state tax credit for employers who hire individuals from targeted groups under the federal Work Opportunity Tax Credit (WOTC) program. Specifically, the bill allows businesses to claim a state tax credit equal to 100% of the federal tax credit for qualified wages paid to eligible employees who are Georgia residents from targeted groups, with a maximum credit of $500 per employee per year. The total aggregate limit for these credits is $10 million annually. Employers must maintain detailed records and provide necessary documentation to the Georgia Department of Revenue to claim the credit, and the department has the authority to recapture credits if records are inadequate or if the federal credit is adjusted. Taxpayers cannot use the credit to offset tax liability from previous or future years, and the credit is limited to the taxpayer's current year income tax liability. The provision will become effective on January 1, 2026, and is set to automatically expire on December 31, 2030. The bill aims to incentivize employers to hire individuals from specific disadvantaged groups by providing a state-level tax benefit that mirrors the existing federal Work Opportunity Tax Credit.

Budget and Finance

https://www.legis.ga.gov/legislation/70499