GA SB530

Creates the Georgia Property Tax Fairness Fund, funded by insurance premium tax collections and sales/use taxes from high-technology data centers, to provide income tax credits to qualifying homeowners and renters

Provides income tax credits to homeowners with federal adjusted gross income below $120,000 (joint filers) or $60,000 (single filers) whose combined property taxes and homeowners insurance exceed 5% of income, and to renters whose annual rent exceeds 33% of income

Repeals sales and use tax exemptions for new high-technology data centers, though existing exemption certificates issued before the effective date remain valid

Repeals insurance premium tax credits and abatements for insurance companies, including credits for companies located in less developed areas

Effective date is January 1, 2027, contingent on voter ratification of a constitutional amendment at the November 2026 general election; automatically repealed if the amendment is not ratified