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GA HB925
Bill
Status
Introduced
2/18/2020
Primary Sponsor
Terry Rogers
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AI Summary
- Amends Georgia Code Section 48-8-3 to expand the categories of high-technology companies eligible for a sales and use tax exemption on the sale or lease of computer equipment incorporated into facilities in Georgia
- Adds four new North American Industrial Classification System (NAICS) codes to the eligible list: 541713, 541714, 541715, and 541720, which cover research and development in nanotechnology, physical/engineering/life sciences, and other related fields
- Updates the NAICS classification reference from prior versions to the 2017 edition and removes several outdated codes while adding new ones (e.g., 334614, 511210, 517311, 517312, 517410, 517911, 517919, 518210, 522320, 541330)
- Retains the existing $15 million threshold requirement, meaning the exemption applies only when computer equipment sales exceed $15 million per calendar year or leased equipment fair market value exceeds $15 million per calendar year
Legislative Description
Sales and use tax; categories of companies that are eligible for an exemption on the sale or lease of certain computer equipment; revise
Last Action
House Committee Favorably Reported By Substitute
3/9/2020
Full Bill Text
No bill text available