HB 1067 – Portable Electronics Insurance & Housing Tax Credit Amendment

• Provides for a comprehensive revision of provisions governing the issuance and regulation of limited licenses to sell portable electronics insurance under Chapter 23 of Title 33 of the Georgia Code

• An amendment offered by Senators Rogers (21st) and Staton (18th) was filed to the Senate Insurance and Labor Committee substitute, though it was ruled not germane to the underlying bill

• The amendment sought to amend Code Section 33-1-18 to add a new subsection (d) ensuring that housing tax credits for qualified projects remain available to any taxpayer with a premium tax liability to the state

• The amendment would have prohibited any state agency from requiring forfeiture of the housing tax credit, forfeiture of any benefit from using the credit, or restraint from using the credit as a condition of participating in any state or combined federal-state program

• Under the proposed amendment, the tax amount used for rate capitation or premium determinations would be calculated as the amount of tax prior to applying the housing tax credit