GA HB1079

Reduces the carryforward period for Georgia's historic rehabilitation tax credit from 10 years to 2 years after certified rehabilitation is completed

Requires unused tax credits to expire and revert to the state after the shortened time period, applying to both original taxpayers and transferees

Allows taxpayers to transfer remaining unused credits to the purchaser when selling a certified historic structure, with transferred credits still subject to the 2-year expiration

Requires the Department of Revenue to report annually to the Governor and General Assembly on the total amount of historic rehabilitation tax credits that have expired and reverted

Authorizes the General Assembly to appropriate reverted credit amounts for economic development, historic preservation, community revitalization, affordable housing, or other public purposes; effective January 1, 2027