23 LC 50 0599
H. B. 814
- 1 -
House Bill 814
By: Representatives Camp of the 135
th
and Williams of the 148
th
A BILL TO BE ENTITLED
AN ACT
To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated,
1
relating to imposition, rate, computation, exemptions, and credits relative to income taxes,2
so as to revise the definition of the term "qualified investment property" with respect to3
income tax credits for certain manufacturing and telecommunications facilities; to provide4
for an effective date and applicability; to provide for related matters; to repeal conflicting5
laws; and for other purposes.6
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
SECTION 1.8
Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to9
imposition, rate, computation, exemptions, and credits relative to income taxes, is amended10
by revising paragraph (2) of subsection (a) of Code Section 48-7-40.2, relating to tax credits11
for existing manufacturing and telecommunications facilities in tier 1 counties, as follows:12
"(2) 'Qualified investment property' means all real and personal property purchased or13
acquired by a taxpayer for use in the construction of an additional manufacturing or14
telecommunications facility to be located in this state or the expansion of an existing15
manufacturing or telecommunications facility located in this state, including, but not16 23 LC 50 0599
H. B. 814
- 2 -
limited to, amounts expended on land acquisition, improvements, buildings, building
17
improvements, ground networks, fiber-optic cables installed in connection with and
18
connected to an additional telecommunications facility or a telecommunications facility19
under expansion regardless of whether such cables are installed within or outside such20
facility, and machinery and equipment to be used in the manufacturing or21
telecommunications facility. The department shall promulgate rules defining eligible22
manufacturing facilities, telecommunications facilities, and qualified investment property23
pursuant to this paragraph."24
SECTION 2.25
Said article is further amended by revising paragraph (2) of subsection (a) of Code Section26
48-7-40.3, relating to tax credits for existing manufacturing and telecommunications facilities27
in tier 2 counties, as follows:28
"(2) 'Qualified investment property' means all real and personal property purchased or29
acquired by a taxpayer for use in the construction of an additional manufacturing or30
telecommunications facility to be located in this state or the expansion of an existing31
manufacturing or telecommunications facility located in this state, including, but not32
limited to, amounts expended on land acquisition, improvements, buildings, building33
improvements, ground networks, fiber-optic cables installed in connection with and34
connected to an additional telecommunications facility or a telecommunications facility35
under expansion regardless of whether such cables are installed within or outside such36
facility, and machinery and equipment to be used in the manufacturing or37
telecommunications facility. The department shall promulgate rules defining eligible38
manufacturing facilities, telecommunications facilities, and qualified investment property39
pursuant to this paragraph."40 23 LC 50 0599
H. B. 814
- 3 -
SECTION 3.
41
Said article is further amended by revising paragraph (2) of subsection (a) of Code Section42
48-7-40.4, relating to tax credits for existing manufacturing and telecommunications facilities43
or manufacturing and telecommunications support facilities in tier 3 or 4 counties, as follows:44
"(2) 'Qualified investment property' means all real and personal property purchased or45
acquired by a taxpayer for use in the construction of an additional manufacturing or46
telecommunications facility to be located in this state or the expansion of an existing47
manufacturing or telecommunications facility located in this state, including, but not48
limited to, amounts expended on land acquisition, improvements, buildings, building49
improvements, ground networks, fiber-optic cables installed in connection with and
50
connected to an additional telecommunications facility or a telecommunications facility51
under expansion regardless of whether such cables are installed within or outside such52
facility, and machinery and equipment to be used in the manufacturing or53
telecommunications facility. The department shall promulgate rules defining eligible54
manufacturing facilities, telecommunications facilities, and qualified investment property55
pursuant to this paragraph."56
SECTION 4.57
This Act shall become effective on July 1, 2024, and shall be applicable to taxable years58
beginning on or after January 1, 2024, and qualifying purchases or acquisitions on or after59
July 1, 2024.60
SECTION 5.61
All laws and parts of laws in conflict with this Act are repealed.62