25 LC 50 1038
House Bill 361
By: Representatives Ballard of the 147
th
, Bonner of the 73
rd
, Clark of the 100
th
, Rice of the
139
th
, Reese of the 140
th
, and others
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to
1
income taxes, so as to exempt from taxation all income received as retirement benefits2
derived from service in the armed forces of the United States or the reserve components3
thereof; to provide for related matters; to provide for an effective date and applicability; to4
repeal conflicting laws; and for other purposes.5
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6
SECTION 1.7
Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to income taxes,8
is amended in Code Section 48-7-27, relating to computation of taxable net income, by9
revising paragraph (5.1) of subsection (a) as follows:10
"(5.1)(A) Up to $17,500.00 of
All income received by an individual who is less than11
62 years of age paid to such paid to an individual as retirement benefits from military12
service in the armed forces of the United States or the reserve components thereof and13
an additional amount of up to $17,500.00 of such income, provided that he or she has14
Georgia earned income otherwise included in his or her Georgia taxable net income in15
an amount that exceeds $17,500.00.16
H. B. 361
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(B) In the case of a married couple filing jointly, each spouse who is otherwise17
qualified for an exclusion allowed by this paragraph shall be individually entitled to18
exclude retirement income received by that spouse up to the exclusion amount.19
(C) The exclusions exclusion provided for in this paragraph shall not apply to or affect20
and shall be in addition to those adjustments to net income provided for under any other21
paragraph of this subsection;"22
SECTION 2.23
This Act shall become effective on July 1, 2025, and shall be applicable to all taxable years24
beginning on or after January 1, 2026.25
SECTION 3.26
All laws and parts of laws in conflict with this Act are repealed.27
H. B. 361
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