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All laws and parts of laws in conflict with this Act are repealed.20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