| 19 | 6 | | relating to imposition, rate, computation, exemptions, and credits, so as to provide for a tax2 |
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| 20 | 7 | | credit for the purchase of an emergency power generator and related components to certain3 |
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| 21 | 8 | | convenience stores and skilled nursing facilities; to provide terms, conditions, and4 |
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| 22 | 9 | | procedures; to limit the tax credit and carry-forward period; to provide for an aggregate cap;5 |
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| 23 | 10 | | to provide for automatic repeal; to provide for rules and regulations; to provide for6 |
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| 24 | 11 | | definitions; to provide for legislative findings; to provide for related matters; to repeal7 |
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| 25 | 12 | | conflicting laws; and for other purposes.8 |
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| 26 | 13 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:9 |
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| 27 | 14 | | SECTION 1.10 |
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| 28 | 15 | | Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to11 |
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| 29 | 16 | | imposition, rate, computation, exemptions, and credit, is amended by adding a new Code12 |
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| 30 | 17 | | section to read as follows:13 |
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| 33 | 19 | | (a)(1) The General Assembly finds and determines that Hurricane Helene had a15 |
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| 34 | 20 | | catastrophic impact on the citizens and the economy of Georgia.16 |
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| 35 | 21 | | H. B. 425 (SUB) |
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| 36 | 22 | | - 1 - 25 LC 50 1179S |
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| 37 | 23 | | (2) The General Assembly further finds and declares that it is appropriate and advisable17 |
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| 38 | 24 | | to ensure the state is better prepared for future weather events by incentivizing the18 |
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| 39 | 25 | | purchase and installation of generators in certain critical businesses such that the entire19 |
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| 40 | 26 | | region will be able to recover faster.20 |
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| 41 | 27 | | (b) For purposes of this Code section, the term:21 |
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| 42 | 28 | | (1) 'Convenience store' means a retail establishment which offers for sale packaged or22 |
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| 43 | 29 | | unprepared food and grocery items for consumption off the premises and may sell fuel23 |
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| 44 | 30 | | products, household items, or tobacco products and has less than 10,000 square feet of24 |
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| 45 | 31 | | retail floor space.25 |
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| 46 | 32 | | (2) 'Emergency power generator and related components' means an alternate backup26 |
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| 47 | 33 | | power source that provides electricity during utility power outages. Such term shall refer27 |
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| 48 | 34 | | to any one or more of the following:28 |
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| 49 | 35 | | (A) A generator itself, whether fixed or mobile;29 |
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| 50 | 36 | | (B) Any transfer switch or switches; or30 |
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| 51 | 37 | | (C) The lines, fuel tanks, or other mechanisms needed to provide power to a generator31 |
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| 52 | 38 | | using diesel, natural gas, propane, or any other fuel source.32 |
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| 53 | 39 | | (3) 'Skilled nursing facility' means an institution or a distinct part of such institution33 |
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| 54 | 40 | | which is primarily engaged in providing inpatient skilled nursing care and related services34 |
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| 55 | 41 | | for patients who require medical or nursing care or rehabilitation services for the35 |
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| 56 | 42 | | rehabilitation of injured, disabled, or sick persons.36 |
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| 57 | 43 | | (c)(1) A taxpayer shall be allowed a tax credit against the tax imposed under this article37 |
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| 58 | 44 | | for expenditures made between July 1, 2025, and December 31, 2026, for the purchase38 |
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| 59 | 45 | | and installation of emergency power generators and related components, provided that39 |
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| 60 | 46 | | any such purchase is not for the purpose of resale.40 |
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| 61 | 47 | | (2) The tax credit allowed under this Code section shall only be applied over a period of41 |
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| 62 | 48 | | five taxable years and shall not exceed $5,000.00 for any taxable year, and no amount42 |
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| 63 | 49 | | shall be allowed or carried forward after such years.43 |
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| 64 | 50 | | H. B. 425 (SUB) |
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| 65 | 51 | | - 2 - 25 LC 50 1179S |
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| 66 | 52 | | (3) A taxpayer shall only be eligible for the tax credit allowed under this Code section44 |
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| 67 | 53 | | once per convenience store or skilled nursing facility owned or operated by such45 |
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| 68 | 54 | | taxpayer. No taxpayer shall be eligible for the tax credit allowed under this Code section46 |
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| 69 | 55 | | for more than five convenience stores.47 |
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| 70 | 56 | | (d) To claim a tax credit allowed pursuant to this Code section, a taxpayer shall attach to48 |
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| 71 | 57 | | such taxpayer's state tax return certification from the taxpayer that the requirements of this49 |
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| 72 | 58 | | Code section have been met and any other information required by the commissioner.50 |
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| 73 | 59 | | (e)(1) Any tax credit allowed pursuant to this Code section shall be claimed on the51 |
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| 74 | 60 | | taxpayer's 2026 tax return.52 |
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| 75 | 61 | | (2) In no event shall the aggregate amount of tax credits allowed under this Code section53 |
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| 76 | 62 | | exceed $5 million.54 |
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| 77 | 63 | | (3) In no event shall the total amount of any tax credit allowed under this Code section55 |
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| 78 | 64 | | for a taxable year exceed the taxpayer's income tax liability. No such tax credit shall be56 |
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| 79 | 65 | | allowed the taxpayer against prior years' tax liability. Except as provided in57 |
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| 80 | 66 | | subsection (c) of this Code section, no amount of the tax credit shall be allowed to be58 |
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| 81 | 67 | | carried forward to apply to the taxpayer's succeeding years' tax liability.59 |
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| 82 | 68 | | (f) A taxpayer seeking to claim a tax credit pursuant to this Code section shall submit an60 |
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| 83 | 69 | | application to the department for preapproval of such tax credit, in the manner specified61 |
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| 84 | 70 | | by the department. The department shall preapprove the tax credits within 30 days based62 |
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| 85 | 71 | | on the order in which properly completed applications were submitted. In the event that63 |
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| 86 | 72 | | two or more applications were submitted on the same day and the amount of funds64 |
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| 87 | 73 | | available will not be sufficient to fully fund the tax credits requested, the commissioner65 |
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| 88 | 74 | | shall prorate the available funds between or among the applicants.66 |
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| 89 | 75 | | (g) The commissioner shall be authorized to promulgate any rules and regulations67 |
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| 90 | 76 | | necessary to implement and administer this Code section.68 |
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| 91 | 77 | | (h) This Code section shall stand repealed on December 31, 2031."69 |
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| 92 | 78 | | H. B. 425 (SUB) |
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| 93 | 79 | | - 3 - 25 LC 50 1179S |
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