Bill > HB563

This bill establishes a tax credit for businesses that install and operate power generators using woody biomass, which are defined as wood residuals like land-clearing and urban wood residue, but specifically exclude wood from national forests, provided these generators have a minimum capacity of 50 megawatts and are used at least 50 percent of the time. The tax credit is calculated at $500,000 per megawatt of capacity for up to five years, with an aggregate limit of $200 million for all taxpayers, and must be claimed by December 31, 2036, with unused credits eligible for a one-time transfer or sale to another Georgia taxpayer, though the transferee cannot further transfer or receive a refund of these credits. Taxpayers claiming these credits are responsible for costs associated with audits related to them, and the state can recapture wrongfully allowed credits, with the Commissioner authorized to create necessary regulations.

Agriculture and Natural Resources, Transportation and Infrastructure

https://www.legis.ga.gov/legislation/70614