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GA HB1074
Bill
Status
Introduced
2/24/2014
Primary Sponsor
Craig Gordon
Click for details
AI Summary
- Extends Georgia's income tax credit for clean energy property by two years, moving the expiration date from December 31, 2014, to December 31, 2016
- Applies to the construction, purchase, or lease of clean energy property placed into service in Georgia, available against income tax or gross premium tax for insurance companies
- Requires credits allowed for calendar years 2015 and 2016 (in addition to existing 2012–2014 requirements) to be taken in four equal installments over four successive taxable years rather than in a single year
- Sets total annual tax credit caps of $5 million each for the new calendar years 2015 and 2016, consistent with the cap levels established for 2012–2014
- Amends Code Section 48-7-29.14 of the Official Code of Georgia Annotated
Legislative Description
State income tax; clean energy property; extend tax credit
Last Action
House Second Readers
2/26/2014
Full Bill Text
No bill text available