Bill > HB1371

This bill, titled the "Georgia Secure Tomorrow Act of 2026," establishes a new system of income tax credits for businesses in Georgia that engage in specific "Secure Tomorrow activities," which broadly include defense, national security space, and emergency response/homeland security sectors, as well as related dual-use technologies like drones and advanced manufacturing for these areas. To qualify, businesses must apply and be certified by the newly created Secure Tomorrow Task Force, a group composed of legislative members, state agency heads, and gubernatorial appointees with expertise in relevant industries. The tax credits are based on a percentage of annual compensation paid to full-time employees, with additional incentives for hiring veterans or employees involved in specific high-priority activities like drone technology or space domain awareness manufacturing. Businesses can also receive enhanced capital investment credits, with higher percentages for larger investments or job creation, and additional location-based credits if they are near military bases, ports, airports, or specific emergency response centers, or near postsecondary institutions with engineering programs. These credits can be refunded if they exceed a business's tax liability and can be carried forward for up to 15 years, with specific provisions for job maintenance and investment requirements during a ten-year "recapture period" to prevent forfeiture of the credits. The bill also sets aggregate limits on the total credits awarded annually and per project, and establishes penalties, including repayment of forgone taxes with interest, for failing to meet the requirements, though exceptions are made for "force majeure" events.

Budget and Finance

https://www.legis.ga.gov/legislation/73360