23 LC 43 2821S
S. B. 56 (SUB)
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The House Committee on Retirement offers the following substitute to SB 56:
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad1
valorem taxation, so as to require the state revenue commissioner to contract with the Board2
of Trustees of the Employees' Retirement System of Georgia to offer certain county tax3
commissioners who are not eligible for any retirement system or county 401(k) or 457(b)4
plan the option to participate in a state administered deferred compensation plan; to provide5
for a limited state match of contributions; to provide for terms and conditions; to provide for6
related matters; to provide for an effective date; to repeal conflicting laws; and for other7
purposes.8
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:9
SECTION 1.10
Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad valorem11
taxation, is amended by adding a new Code section to Part 3 of Article 3, relating to12
compensation for county tax officials and administration, to read as follows:13 23 LC 43 2821S
S. B. 56 (SUB)
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"48-5-184.14
(a) As used in this Code section, the term 'eligible county tax commissioner' means any15
county tax commissioner or tax collector who is compensated pursuant to Code Section16
48-5-183 and, as of March 1, 2023, was not eligible to participate in any:17
(1) Retirement system, as such term is defined in Code Section 47-20-3; or18
(2) Deferred compensation plan offered by the county that utilizes Section 401(k) or19
457(b) of the United States Internal Revenue Code of 1986.20
(b) The state revenue commissioner shall contract with the Board of Trustees of the21
Employees' Retirement System of Georgia for the administration of a deferred22
compensation plan offered as a state benefit for eligible county tax commissioners as23
provided for in this Code section.24
(c)(1) Subject to the contract required under subsection (b) of this Code section, the25
Board of Trustees of the Employees' Retirement System of Georgia shall investigate and26
approve a deferred compensation plan that offers to eligible county tax commissioners27
income tax benefits in connection with plans authorized by the United States Internal28
Revenue Code of 1986, so that compensation deferred under such plan shall not be29
included for purposes of computation of any federal income tax withheld on behalf of any30
such tax commissioner or payable by such tax commissioner before any deferred payment31
date. All contributions to such deferred compensation plans shall also be exempt from32
state withholding tax so long as such contributions are not includable in gross income for33
federal income tax purposes.34
(2) Notwithstanding any conflicting provisions of paragraph (1) of this subsection, for35
any deferred compensation plan established pursuant to said paragraph, the Board of36
Trustees of the Employees' Retirement System of Georgia shall be authorized to include37
as an option for eligible county tax commissioners a qualified Roth contribution program38
in accordance with Section 402A of the United States Internal Revenue Code of 1986.39 23 LC 43 2821S
S. B. 56 (SUB)
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(d)(1) On and after July 1, 2023, for any eligible county tax commissioner who40
contributes a percentage from his or her minimum annual salary paid by the county41
pursuant to paragraphs (1) and (2) of subsection (b) of Code Section 48-5-183 into the42
deferred compensation plan established under this Code section, the state shall contribute43
an equal amount into such eligible county tax commissioner's plan account, up to a44
maximum of 5 percent; provided, however, that all state contributions to plan accounts45
shall be subject to limitations imposed by federal law.46
(2) Each eligible county tax commissioner may make such additional contributions as47
he or she desires, subject to limitations imposed by federal law.48
(e) The Board of Trustees of the Employees' Retirement System of Georgia and the state49
revenue commissioner shall be entitled to impose requirements for the withholding and50
remittance of contributions by county governing authorities in order to effectuate this Code51
section and comply with state and federal law.52
(f) Any eligible county tax commissioner who becomes eligible to participate in a53
retirement system or county plan described in paragraph (1) or (2) of subsection (a) of this54
Code section on or after the effective date of this Act shall no longer receive the state55
contributions paid pursuant to subsection (d) of this Code section."56
SECTION 2.57
This Act shall become effective upon its approval by the Governor or upon its becoming law58
without such approval.59
SECTION 3.60
All laws and parts of laws in conflict with this Act are repealed.61