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Bill > HB1153

GA HB1153

GA HB1153
Revenue and taxation; tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; provide

summary

Introduced
02/02/2026
In Committee
Crossed Over
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 imposition, rate, computation, exemptions, and credits, so as to provide a tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; to provide for application and approval; to provide for rules, regulations, and forms; 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 establishes a new state tax credit for newly constructed homes built by residential contractors or builders and sold to individuals or families whose income is no more than 80 percent of the area median income, which is defined as the median income for the area where the home is located as determined by the department. To claim this credit, taxpayers must apply to the commissioner, who has 60 days to approve it if it meets the bill's requirements. The department is authorized to create rules and forms to administer this tax credit, which will be effective for taxable years beginning on or after January 1, 2027.

Committee Categories

Budget and Finance

Sponsors (6)

Last Action

House Second Readers (on 02/04/2026)

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