GA
Georgia House Bill HB814

Georgia 2023-2024 Regular Session

Georgia House Bill HB814 Compare Versions

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1-24 LC 50 0885S
2-The Senate Committee on Rules offered the following
1+24 LC 50 0843S
2+The Senate Committee on Finance offered the following
33 substitute to HB 814:
44 A BILL TO BE ENTITLED
55 AN ACT
66 To amend Code Section 48-7-21 of the Official Code of Georgia Annotated, relating to1
7-taxation of corporations, so as to exclude certain grants for broadband investments; to2
8-provide for related matters; to provide for an effective date and applicability; to repeal3
9-conflicting laws; and for other purposes.4
7+taxation of corporations, so as to exclude certain grants for broadband investments received2
8+by rural telephone companies; to provide for related matters; to provide for an effective date3
9+and applicability; to repeal conflicting laws; and for other purposes.4
1010 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
1111 SECTION 1.6
1212 Code Section 48-7-21 of the Official Code of Georgia Annotated, relating to taxation of7
1313 corporations, is amended by adding a new paragraph in subsection (b) to read as follows:8
1414 "(18) For taxable years beginning on or after January 1, 2024, and prior to January 1,9
1515 2029, there shall be subtracted from taxable income any grant or subgrant pursuant to the10
1616 Broadband Equity, Access, and Deployment Program established pursuant to 47 U.S.C.11
17-1702, or the American Rescue Plan Act of 2021, Public Law 117-2, received for the12
18-purpose of making investments in broadband infrastructure but only to the extent that13
19-such grant or subgrant is included in the corporation's taxable income, as defined under14
20-the Internal Revenue Code of 1986."15
21-- 1 - 24 LC 50 0885S
22-SECTION 2.16
23-This Act shall become effective on July 1, 2024, and shall be applicable to all taxable years17
24-beginning on or after January 1, 2024.18
25-SECTION 3.19
26-All laws and parts of laws in conflict with this Act are repealed.20
17+1702, or the American Rescue Plan Act of 2021, Public Law 117-2, received by a rural12
18+telephone company, as such term is defined in 47 U.S.C. Section 153, for the purpose of13
19+making investments in broadband infrastructure but only to the extent that such grant or14
20+subgrant is included in the corporation's taxable income, as defined under the Internal15
21+Revenue Code of 1986."16
22+- 1 - 24 LC 50 0843S
23+SECTION 2.17
24+This Act shall become effective on July 1, 2024, and shall be applicable to all taxable years18
25+beginning on or after January 1, 2024.19
26+SECTION 3.20
27+All laws and parts of laws in conflict with this Act are repealed.21
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