| 1 | 1 | | 25 LC 50 1001 |
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| 2 | 2 | | House Bill 264 |
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| 3 | 3 | | By: Representatives Ridley of the 22 |
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| 4 | 4 | | nd |
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| 5 | 5 | | , Ridley of the 6 |
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| 6 | 6 | | th |
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| 7 | 7 | | , Horner of the 3 |
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| 8 | 8 | | rd |
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| 9 | 9 | | , Powell of the 33 |
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| 10 | 10 | | rd |
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| 11 | 11 | | , |
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| 12 | 12 | | Tarvin of the 2 |
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| 13 | 13 | | nd |
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| 14 | 14 | | , and others |
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| 15 | 15 | | A BILL TO BE ENTITLED |
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| 16 | 16 | | AN ACT |
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| 17 | 17 | | To amend Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to |
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| 18 | 18 | | 1 |
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| 19 | 19 | | income taxes, so as to fully exempt residents who have reached the age of 100; to provide2 |
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| 20 | 20 | | for related matters; to repeal conflicting laws; and for other purposes.3 |
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| 21 | 21 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:4 |
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| 22 | 22 | | SECTION 1.5 |
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| 23 | 23 | | Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to income taxes,6 |
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| 24 | 24 | | is amended by revising subsection (a) of Code Section 48-7-20, relating to individual tax7 |
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| 25 | 25 | | rates, credit for withholding and other payments, and applicability to estates and trusts, as8 |
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| 26 | 26 | | follows:9 |
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| 27 | 27 | | "(a)(1) |
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| 28 | 28 | | A tax is imposed upon every resident of this state with respect to the Georgia10 |
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| 29 | 29 | | taxable net income of the taxpayer as defined in Code Section 48-7-27; provided,11 |
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| 30 | 30 | | however, that for taxable years beginning on or after January 1, 2025, no such tax is12 |
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| 31 | 31 | | imposed on any resident of this state who has reached the age of 100 or older prior to13 |
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| 32 | 32 | | January 1 of such taxable year.14 |
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| 33 | 33 | | (2) A tax is imposed upon every nonresident with respect to such nonresident's Georgia15 |
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| 34 | 34 | | taxable net income not otherwise exempted which is received by the taxpayer from16 |
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| 35 | 35 | | H. B. 264 |
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| 36 | 36 | | - 1 - 25 LC 50 1001 |
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| 37 | 37 | | services performed, property owned, proceeds of any lottery prize awarded by the |
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| 38 | 38 | | 17 |
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| 39 | 39 | | Georgia Lottery Corporation, or from business carried on in this state. 18 |
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| 40 | 40 | | (3) |
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| 41 | 41 | | Except as otherwise provided in this chapter, the tax imposed by this subsection shall19 |
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| 42 | 42 | | be levied, collected, and paid annually."20 |
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| 43 | 43 | | SECTION 2.21 |
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| 44 | 44 | | All laws and parts of laws in conflict with this Act are repealed.22 |
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| 45 | 45 | | H. B. 264 |
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| 46 | 46 | | - 2 - |
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