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GA HB1305

Bill

Official Source

Status

Introduced

2/10/2022

Primary Sponsor

Yasmin Neal

Click for details

Origin

House of Representatives

2021-2022 Regular Session

AI Summary

  • Allows individuals to deduct 20 percent of rental charges paid for their primary residence from Georgia taxable net income
  • Individuals who have claimed a homestead exemption on any property during the same taxable year are ineligible for the deduction
  • Amends Code Section 48-7-27 of the Official Code of Georgia Annotated, relating to the computation of taxable net income
  • Effective July 1, 2022, and applicable to all taxable years beginning on or after January 1, 2023
  • Sponsored by Representatives Neal of the 74th and Mallow of the 163rd districts

Legislative Description

Income tax; deduction on rental charges incurred by an individual due to renting his or her primary residence; provide

Last Action

House Second Readers

2/14/2022

Committee Referrals

Ways and Means2/11/2022

Full Bill Text

No bill text available