GA HB1070

Increases the income tax credit cap for Class III railroad track maintenance expenditures from $3,500 to $5,000 per mile of railroad track owned or leased in Georgia

Extends the tax credit program by 5 years, from the current expiration date of December 30, 2026 to December 30, 2031

Extends the deadline for Class III railroads to assign unused tax credits to other taxpayers from January 1, 2027 to January 1, 2032

Delays the automatic repeal of the entire tax credit provision from January 1, 2027 to January 1, 2032

Credit remains at 50% of qualified railroad track maintenance expenditures (roadbed, bridges, and related track structures) with a 3-year carry-forward period for unused credits