25 LC 59 0075ER
House Bill 407
By: Representatives Gilliard of the 162
nd
, Crawford of the 89
th
, Holly of the 116
th
, Tran of
the 80
th
, Schofield of the 63
rd
, 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 provide for a tax credit for costs of doing business with Georgia grown2
hemp owners and suppliers; to provide for terms and conditions; to provide for related3
matters; to provide for a short title; 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
This Act shall be known and may be cited as the "Georgia Hemp Industry Growth and8
Business Partnership Tax Credit Act."9
SECTION 2.10
Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to income taxes,11
is amended by adding a new Code section to read as follows:12
"48-7-29.27.
13
(a) For taxable years beginning on or after January 1, 2026, each taxpayer shall be allowed14
an income tax credit against the tax imposed by this article equal to 10 percent of such15
H. B. 407
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taxpayer's costs of doing business with Georgia grown hemp owners and suppliers,16
or $100,000.00 per taxpayer, whichever is less.17
(b) The Commissioner of Agriculture shall provide clear guidelines for the application and18
distribution of the tax credit.19
(c) The Commissioner of Agriculture shall provide annual reports on the status of the tax20
credit program, including the number of applicants, the amount of tax credits issued, and21
the impact of the tax credit on the Georgia grown hemp industry.22
(d) Noncompliance with the provisions of this Code section may result in revocation of23
the tax credit.24
(e) In no event shall the total amount of any tax credit allowed under this Code section for25
a taxable year exceed the taxpayer's income tax liability. No such tax credit shall be26
allowed the taxpayer against prior years' tax liability. Any unused tax credit shall be27
allowed to be carried forward to apply to the taxpayer's next five years' tax liability."28
SECTION 3.29
This Act shall become effective on January 1, 2026, and shall be applicable to taxable years30
beginning on or after January 1, 2026.31
SECTION 4.32
All laws and parts of laws in conflict with this Act are repealed.33
H. B. 407
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