Georgia 2023-2024 Regular Session

Georgia House Bill HB1020 Compare Versions

OldNewDifferences
1-24 LC 50 0884S
2-The Senate Committee on Finance offered the following
3-substitute to HB 1020:
1+24 LC 50 0655
2+House Bill 1020
3+By: Representatives Sainz of the 180
4+th
5+, Ballard of the 147
6+th
7+, Burchett of the 176
8+th
9+, LaHood
10+of the 175
11+th
12+, and Blackmon of the 146
13+th
14+
415 A BILL TO BE ENTITLED
516 AN ACT
6-To amend Code Section 48-7-40.1 of the Official Code of Georgia Annotated, relating to tax1
7-credits for business enterprises in less developed areas, so as to provide for certain military2
8-zones that qualify for designation as less developed areas during a limited period of time; to3
9-provide for related matters; to repeal conflicting laws; and for other purposes.4
17+To amend Code Section 48-7-40.1 of the Official Code of Georgia Annotated, relating to tax
18+1
19+credits for business enterprises in less developed areas, so as to revise the military zones that2
20+qualify for designation as less developed areas; to provide for related matters; to repeal3
21+conflicting laws; and for other purposes.4
1022 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
1123 SECTION 1.6
1224 Code Section 48-7-40.1 of the Official Code of Georgia Annotated, relating to tax credits for7
13-business enterprises in less developed areas, is amended by revising subsection (c) as8
14-follows:9
15-"(c) The commissioner of community affairs, and the commissioner of economic10
16-development in areas qualifying under the provisions of paragraphs (1), (3), and (4) of this11
17-subsection, also shall be authorized to include in the designation provided for in12
18-subsection (b) of this Code section:13
19-(1) Any area composed of ten or more contiguous census tracts which, in the opinion of14
20-the commissioner of community affairs and the commissioner of economic development,15
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22-undergoes a sudden and severe period of economic distress caused by the closing of one16
23-or more business enterprises located in such area;17
24-(2) Any area composed of one or more census tracts adjacent to a federal military18
25-installation where pervasive poverty is evidenced by a 15 percent poverty rate or greater19
26-as reflected in the most recent decennial census; provided, however, that the subsequent20
27-redrawing or alteration of census tracts in a manner which results in an area no longer21
28-being in a census tract adjacent to a federal military installation shall not disqualify an22
29-area which has previously qualified under this paragraph if the area continues to have23
30-pervasive poverty as described in this paragraph;24
31-(2.1) Any census tract in a county that contains a federal military installation with a25
32-garrison of at least 5,000 federal or military personnel combined and also contains an26
33-industrial park that is owned and operated by a governmental entity;27
34-(2.2) For 2025 and 2026, any census tract in a county that contains a federal military28
35-installation with a garrison of at least 5,000 federal or military personnel;29
36-(3) Any area composed of one or more contiguous census tracts which, in the opinion30
37-of the commissioner of community affairs and the commissioner of economic31
38-development, is or will be adversely impacted by the loss of one or more jobs, businesses,32
39-or residences as a result of an airport expansion, including noise buy-outs, or the closing33
40-of a business enterprise which, in the opinion of the commissioner of community affairs34
41-and the commissioner of economic development, results or will result in a sudden and35
42-severe period of economic distress; or36
43-(4) Any area which is within or adjacent to one or more contiguous census block groups37
44-with a poverty rate of 15 percent or greater as determined from data in the most current38
45-United States decennial census, where the area is also included within a state enterprise39
46-zone pursuant to Chapter 88 of Title 36 or where a redevelopment plan has been adopted40
47-pursuant to Chapter 61 of Title 36 and which, in the opinion of the commissioner of41
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49-community affairs and the commissioner of economic development, displays pervasive42
50-poverty, underdevelopment, general distress, and blight.43
51-No designation made pursuant to this subsection shall operate to displace or remove any44
52-other area previously designated as a less developed area. Notwithstanding any provision45
53-of this Code section to the contrary, in areas designated as suffering from pervasive poverty46
54-under this subsection, job tax credits shall be allowed as provided in this Code section, in47
55-addition to business enterprises, to any lawful business."48
56-SECTION 2.49
57-All laws and parts of laws in conflict with this Act are repealed.50
58-- 3 -
25+business enterprises in less developed areas, is amended by revising paragraph (2.1) of8
26+subsection (c) as follows: 9
27+"(2.1) Any census tract in a county that contains a federal military installation with a10
28+garrison of at least 5,000 federal or military personnel combined and also contains an
29+11
30+industrial park that is owned and operated by a governmental entity;"12
31+SECTION 2.13
32+All laws and parts of laws in conflict with this Act are repealed.14
33+H. B. 1020
34+- 1 -