25 HB 360/AP
House Bill 360 (AS PASSED HOUSE AND SENATE)
By: Representatives Efstration of the 104
th
, Stephens of the 164
th
, Jones of the 25
th
, Blackmon
of the 146
th
, Williamson of the 112
th
, and others
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 income tax imposition, rate, computation, exemptions, and credits, so as to revise2
a tax credit for the rehabilitation of historic structures; to authorize a reduced credit to be3
claimed in certain taxable years for certain preapproved rehabilitations provided that a4
certificate of occupancy is obtained; to provide for a territory applicability; to provide for5
related matters; to repeal conflicting 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
income tax imposition, rate, computation, exemptions, and credits, is amended in Code10
Section 48-7-29.8, relating to tax credits for the rehabilitation of historic structures, by11
adding a new subsection to read as follows:12
"(b.1) Notwithstanding the provisions of subsections (b) and (c) of this Code section, any
13
taxpayer that was preapproved by the commissioner to claim tax credits pursuant to this14
Code section for certified structures other than historic homes for tax year 2027 or 202815
shall be authorized to claim the tax credits allowed pursuant to this Code section for a16
H. B. 360
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certified rehabilitation in the authorized tax year or in tax year 2026, provided that such17
taxpayer obtains a certificate of occupancy for such certified structureon or before July18
1, 2026; provided, however, that any taxpayer that claims tax credits pursuant to this19
subsection in tax year 2026 shall only be allowed to claim such credits in an amount:20
(A) Not to exceed 90 percent of the amount otherwise allowed pursuant to this Code21
section if such credit was preapproved for tax year 2027; or22
(B) Not to exceed 85 percent of the amount otherwise allowed pursuant to this Code23
section if such credit was preapproved for tax year 2028."24
SECTION 2.25
All laws and parts of laws in conflict with this Act are repealed.26
H. B. 360
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