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GA SB475
Bill
Status
Introduced
2/22/2012
Primary Sponsor
Judson Hill
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AI Summary
- Establishes "charity health care organizations" defined as 501(c)(3) nonprofit corporations supporting 50 or more charity health care clinics that provide health care services to the uninsured in Georgia
- Georgia Department of Public Health is required to approve and maintain a list of eligible charity health care organizations for purposes of the tax credit
- Individual taxpayers may claim an income tax credit of up to $1,000 per year (single/head of household) or $2,500 per year (married filing jointly) for contributions to approved charity health care organizations
- Corporations may claim a credit for contributions up to 75% of their income tax liability, with unused credits carried forward for up to five succeeding tax years
- Aggregate tax credits are capped at $2 million per year for three years beginning January 1, 2013, with unused aggregate credits carrying over until December 31, 2018; contributions must be preapproved by the tax commissioner on a first-come, first-served basis through a web-based process
Legislative Description
Charity Care Organizations; establish; provide health care services to the uninsured in this state; definitions; tax credits for contributions
Last Action
Senate Read and Referred
2/22/2012
Committee Referrals
Finance2/22/2012
Full Bill Text
No bill text available