GA HB248

Creates a Georgia state income tax credit equal to 25% of expenses for geothermal heat pump and heating/cooling system installations at owner-occupied residential dwellings, for systems placed in service on or after January 1, 2026

Limits the credit to $5,000 per taxable year, spread over a five-year period, with only one credit allowed per dwelling

Caps total annual tax credits statewide at $2.5 million, with applications processed in the order received and prorated if funds are insufficient

Requires installations to meet or exceed federal Energy Star requirements at the time of service; eligible equipment includes ground-source heat pumps, controls, tanks, pumps, and heat exchangers

Effective July 1, 2025, applicable to taxable years beginning January 1, 2026, with automatic repeal on December 31, 2031