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GA HB1066
Bill
Status
Introduced
2/27/2020
Primary Sponsor
Don Parsons
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AI Summary
- Reinstates Georgia's state income tax credit for new zero emission vehicles beginning January 1, 2021, after the credit was set to $0.00 for vehicles purchased between July 1, 2015, and January 1, 2021, with the credit phasing down over three periods: up to $3,000 (2021–2023), up to $2,000 (2024–2027), and up to $1,000 (2028–2030)
- Establishes declining annual aggregate caps on the zero emission vehicle credit: $20 million (2021–2023), $15 million (2024–2027), and $10 million (2028–2030)
- Revises the electric vehicle charger tax credit for business enterprises—including industrial, commercial residential, commercial retail, and commercial office property owners—with the per-charger credit decreasing from $1,500 (2021–2023) to $1,000 (2024–2027) to $500 (2028–2030), subject to annual aggregate caps of $5 million, $3 million, and $1 million, respectively
- Requires taxpayers claiming credits on or after January 1, 2021, to obtain preapproval from the state revenue commissioner, with applications processed on a first-come, first-served basis and prorated if same-day applications exceed available funds
- Eliminates the previously authorized low-speed vehicle tax credit provision and removes associated certification and documentation requirements
Legislative Description
Income tax; credit for new electric vehicles and electric vehicle chargers; revise
Last Action
House Second Readers
3/2/2020
Full Bill Text
No bill text available