Loading chat...
GA SB26
Bill
Status
1/17/2025
Primary Sponsor
Michael Rhett
Click for details
AI Summary
-
Requires the Georgia Revenue Commissioner to establish regulations for applying cost-of-living adjustments (COLA) to the amount of military retirement pay excluded from state taxable income
-
Adjustments must reflect inflation and deflation effects on military retirees from the U.S. armed forces or reserve components residing in Georgia
-
Commissioner may use the Consumer Price Index from the Bureau of Labor Statistics (same index used for Social Security adjustments) or similar federal index to calculate adjustments
-
COLA determinations will result in proportional adjustments to the military retirement income exclusion amount
-
Effective July 1, 2025, applicable to taxable years beginning on or after January 1, 2026
Legislative Description
State Income Taxes; with regard to military retirement income, to determine and apply a cost-of-living adjustment to the amount of allowable retirement pay; require the state revenue commissioner
Last Action
Senate Recommitted
1/12/2026