Georgia 2025-2026 Regular Session

Georgia House Bill HB628 Compare Versions

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

Old	New	Differences
1	1	25 LC 50 1090
2	2	House Bill 628
3	3	By: Representatives Camp of the 135
4	4	th
5	5	, Crowe of the 118
6	6	th
7	7	, Lumsden of the 12
8	8	th
9	9	, and
10	10	Wiedower of the 121
11	11	st
12	12
13	13	A BILL TO BE ENTITLED
14	14	AN ACT
15	15	To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated,
16	16	1
17	17	relating to imposition, rate, computation, exemptions, and credits for income taxes, so as to2
18	18	revise an income tax credit for contributions to law enforcement foundations; to increase the3
19	19	annual amount of contributions allowed; to extend the sunset date; to provide for procedures;4
20	20	to provide for related matters; to provide for an effective date and applicability; to repeal5
21	21	conflicting laws; and for other purposes.6
22	22	BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
23	23	SECTION 1.8
24	24	Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to9
25	25	imposition, rate, computation, exemptions, and credits for income taxes is amended in Code10
26	26	Section 48-7-29.25, relating to income tax credits for contributions to law enforcement11
27	27	foundations, by revising subsections (b) and (e) as follows:12
28	28	"(b)(1) The aggregate amount of tax credits allowed under this Code section shall not13
29	29	exceed $75 million per calendar year. Each qualified law enforcement foundation shall14
30	30	be limited to accepting $3
31	31	$5 million per year of contributions made under this Code15
32	32	section.16
33	33	H. B. 628
34	34	- 1 - 25 LC 50 1090
35	35	(2) Subject to the aggregate limit provided in paragraph (1) of this subsection, for taxable17
36	36	years beginning on or after January 1, 2023, and ending on or before December 31, 202718
37	37	2032, each taxpayer shall be allowed a credit against the tax imposed by this chapter for19
38	38	qualified contributions made by the taxpayer as follows:20
39	39	(A) In the case of a single individual or a head of household, the actual amount of21
40	40	qualified contributions made or $5,000.00 per tax year, whichever is less;22
41	41	(B) In the case of a married couple filing a joint return, the actual amount of qualified23
42	42	contributions made or $10,000.00 per tax year, whichever is less;24
43	43	(C) Anything to the contrary contained in subparagraph (A) or (B) of this paragraph25
44	44	notwithstanding, in the case of an individual taxpayer who is a member of a limited26
45	45	liability company duly formed under state law, a shareholder of a Subchapter 'S'27
46	46	corporation, or a partner in a partnership, the actual amount of qualified contributions28
47	47	it made or $10,000.00 per tax year, whichever is less; provided, however, that tax29
48	48	credits pursuant to this paragraph shall only be allowed for the portion of the income30
49	49	on which such tax was actually paid by such member of the limited liability company,31
50	50	shareholder of a Subchapter 'S' corporation, or partner in a partnership; or32
51	51	(D) A corporation or other entity not provided for in subparagraphs (A) through (C)33
52	52	of this paragraph shall be allowed a credit against the tax imposed by this chapter, for34
53	53	qualified contributions in an amount not to exceed the actual amount of qualified35
54	54	contributions made or 75 percent of such corporation's or other entity's income tax36
55	55	liability, whichever is less.37
56	56	(3) Nothing in this Code section shall be construed to limit the ability of a local law38
57	57	enforcement unit to receive gifts, grants, and other benefits from any source allowed by39
58	58	law; provided, however, that no local law enforcement unit shall, under this Code section,40
59	59	accept or receive more than $3 $5 million in contributions in any calendar year."41
60	60	"(e)(1) Prior to making a contribution to any qualified law enforcement foundation, the42
61	61	taxpayer shall request preapproval by electronically notify notifying the department, in43
62	62	H. B. 628
63	63	- 2 - 25 LC 50 1090
64	64	a manner specified by the commissioner, of the total amount of contribution that such
65	65	44
66	66	taxpayer intends to make to such qualified law enforcement foundation.45
67	67	(2) Within 30 days after receiving a request for preapproval of contributions, the46
68	68	commissioner shall preapprove, deny, or prorate requested amounts on a first come, first47
69	69	served basis and shall provide notice to such taxpayer and the qualified law enforcement48
70	70	foundation of such preapproval, denial, or proration. Such notices shall not require any49
71	71	signed release or notarized approval by the taxpayer. The preapproval of contributions50
72	72	by the commissioner shall be based solely
73	73	on the availability of tax credits subject to the51
74	74	limits established under paragraph (1) of subsection (b) of this Code section.52
75	75	(3) Within 60 days after receiving the preapproval notice issued by the commissioner53
76	76	pursuant to paragraph (2) of this subsection, the taxpayer shall contribute the preapproved54
77	77	amount to the qualified law enforcement foundation or such preapproved contribution55
78	78	amount shall expire. The commissioner shall not include such expired amounts in56
79	79	determining the remaining amount amounts available under the aggregate limit limits57
80	80	provided in paragraph (1) of subsection (b) of this Code section for the respective58
81	81	calendar year."59
82	82	SECTION 2.60
83	83	This Act shall become effective on July 1, 2025, and shall be applicable to all taxable years61
84	84	beginning on or after January 1, 2026.62
85	85	SECTION 3.63
86	86	All laws and parts of laws in conflict with this Act are repealed.64
87	87	H. B. 628
88	88	- 3 -