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GA HB1422
Bill
Status
Introduced
2/22/2022
Primary Sponsor
Sheri Gilligan
Click for details
AI Summary
- Amends the Georgia Entertainment Industry Investment Act (Code Section 48-7-40.26) to prohibit the transfer, sale, or assignment of entertainment industry tax credits on and after July 1, 2022
- Applies to all tax credits earned, allowed, or claimed under the Act by production companies and qualified interactive entertainment production companies
- Preserves existing transfer rules for credits transferred before July 1, 2022, including the requirement that transferees pay a minimum of 60 percent of the credit's face value
- Existing conditions for pre-July 2022 transfers remain intact, including 30-day written notification to the Department of Economic Development and Department of Revenue, and the limitation of one transfer per taxable year
- Sponsored by Representatives Gilligan (24th), Byrd (20th), and Singleton (71st)
Legislative Description
Georgia Entertainment Industry Investment Act; prohibit transfer, sale, or assignment of certain tax credits on or after a certain date
Last Action
House Second Readers
2/28/2022
Committee Referrals
Ways and Means2/24/2022
Full Bill Text
No bill text available