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GA HB1219
Bill
Status
Introduced
2/18/2010
Primary Sponsor
Paul Battles
Click for details
AI Summary
- Amends Georgia's low-income resident tax credit (Chapter 7A of Title 48) to eliminate the provision allowing individuals with no income or no taxable income to claim the tax credit
- Converts the low-income tax credit from a refundable credit to a nonrefundable credit, meaning the credit amount cannot exceed the taxpayer's income tax liability and no excess will be refunded
- Prohibits carrying forward any unused credit amount to succeeding tax years and disallows applying the credit against prior years' tax liability
- Repeals the legislative findings and purposes section (Code Section 48-7A-1) of the low-income tax credit chapter
- Applies to all taxable years beginning on or after January 1, 2010, and takes effect upon the Governor's approval
Legislative Description
Income tax; change certain definitions
Last Action
House Committee Favorably Reported
3/22/2010
Committee Referrals
Ways and Means2/18/2010
Full Bill Text
No bill text available