Georgia 2025-2026 Regular Session

Georgia House Bill HB479 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	25 LC 59 0087
2	2	House Bill 479
3	3	By: Representatives Carson of the 46
4	4	th
5	5	, Dubnik of the 29
6	6	th
7	7	, Kelley of the 16
8	8	th
9	9	, Carpenter of
10	10	the 4
11	11	th
12	12	, Crowe of the 118
13	13	th
14	14	, and others
15	15	A BILL TO BE ENTITLED
16	16	AN ACT
17	17	To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated,
18	18	1
19	19	relating to the imposition, rate, computation, exemptions, and credits relative to income2
20	20	taxes, so as to allow for tax credits in excess of the amount that can be claimed in a given3
21	21	year to be carried forward to subsequent years; to provide for related matters; to provide for4
22	22	an effective date and applicability; to repeal conflicting laws; and for other purposes.5
23	23	BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6
24	24	SECTION 1.7
25	25	Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the8
26	26	imposition, rate, computation, exemptions, and credits relative to income taxes, is amended9
27	27	by revising subsection (c) of Code Section 48-7-29.16, relating to tax credits for10
28	28	contributions to student scholarship organizations, as follows:11
29	29	"(c) A corporation or other entity shall be allowed a credit against the tax imposed by this12
30	30	chapter for qualified education expenses in an amount not to exceed the actual amount13
31	31	expended or 75 percent of the corporation's
32	32	such entity's estimated income tax liability, as14
33	33	provided to the department under paragraph (3) of subsection (f) of this Code section,15
34	34	whichever is less."16
35	35	H. B. 479
36	36	- 1 - 25 LC 59 0087
37	37	SECTION 2.
38	38	17
39	39	Said article is further amended by revising subsection (c) of Code Section 48-7-29.20,18
40	40	relating to tax credits for contributions to rural hospital organizations, as follows:19
41	41	"(c) A corporation or other entity shall be allowed a credit against the tax imposed by this20
42	42	chapter for qualified rural hospital organization expenses in an amount not to exceed the21
43	43	actual amount expended or 75 percent of the corporation's
44	44	such entity's estimated income22
45	45	tax liability, as provided to the department under paragraph (3) of subsection (e) of this23
46	46	Code section, whichever is less."24
47	47	SECTION 3.25
48	48	Said article is further amended by revising subsection (c) of Code Section 48-7-29.21,26
49	49	relating to tax credits for donations to nonprofit corporations awarding grants to public27
50	50	schools, as follows:28
51	51	"(c) A corporation or other entity shall be allowed a credit against the tax imposed by this29
52	52	chapter for qualified education donations in an amount not to exceed the actual amount30
53	53	donated or 75 percent of the corporation's such entity's estimated income tax liability, as31
54	54	provided to the department under paragraph (3) of subsection (f) of this Code section,32
55	55	whichever is less."33
56	56	SECTION 4.34
57	57	Said article is further amended by revising paragraph (4) of subsection (b.1) of Code Section35
58	58	48-7-29.24, relating to tax credits for contributions to foster child support organizations, as36
59	59	follows:37
60	60	"(4) In the case of a corporation or other entity not provided for in paragraphs (1)38
61	61	through (3) of this subsection, 10 percent of such entity's estimated income tax liability,39
62	62	as provided to the department under paragraph (1) of subsection (e) of this Code section."40
63	63	H. B. 479
64	64	- 2 - 25 LC 59 0087
65	65	SECTION 5.
66	66	41
67	67	Said article is further amended by revising subparagraph (b)(2)(D) of Code Section42
68	68	48-7-29.25, relating to tax credits for contributions to law enforcement foundations, as43
69	69	follows:44
70	70	"(D) A corporation or other entity not provided for in subparagraphs (A) through (C)45
71	71	of this paragraph shall be allowed a credit against the tax imposed by this chapter, for46
72	72	qualified contributions in an amount not to exceed the actual amount of qualified47
73	73	contributions made or 75 percent of such corporation's or other
74	74	entity's estimated48
75	75	income tax liability, as provided to the department under paragraph (1) of subsection (e)49
76	76	of this Code section, whichever is less."50
77	77	SECTION 6.51
78	78	This Act shall become effective on July 1, 2025, and shall be applicable to all taxable years52
79	79	beginning on or after January 1, 2026.53
80	80	SECTION 7.54
81	81	All laws and parts of laws in conflict with this Act are repealed.55
82	82	H. B. 479
83	83	- 3 -