By State Sen. Greg Goggans
ATLANTA (Mar. 27, 2009)
Home Purchase Tax Break Passed Senate Goes Back To House:
HB 261 authorizes an income tax credit for the purchase of a single-family home; essentially for the final 6 months of 2009. The amount is either 1.2 percent of the purchase price of such eligible single-family residence or $3,600.00, whichever is less.
Tax Credits Spur Job Growth:
The “Georgia Works Tax Credit” suspends levy of filing fees for new businesses as collected by the Secretary of State. HB 481 would give businesses a $2,400 tax credit for each unemployed person they hire and keep on the job. The “Tax Credit” will be available quarterly for amounts between $25 and $125 per unemployed individual hired as an employee for up to four calendar quarters, this applies to unemployment insurance tax obligations. The corporate income tax will be phased out for Georgia corporations by FY 2020 if funds are available.
Property Assessments Frozen:
HB 233 provides for a moratorium period for taxable years beginning on or after January 1, 2009, and continuing until January, 2011 during which valuation increases of property are limited. This legislation states that the rate of increase of the assessed value of property for county, county school district, municipal or independent school district ad valorem tax purposes is frozen from one taxable year to the succeeding taxable year.
Additional Legislation Awaiting Governor’s Final Signature:
SB 44: Provides for purchasing preferences for certain supplies, materials, equipment, and agricultural products manufactured or produced in Georgia.
SB 165: Authorizes the Department of Community Health to obtain income eligibility verification from the Department of Revenue for all applicants in pursuit of Medicaid and the PeachCare for Kids Program.
SB 210: Allows home schooled students to participate in the student honors program.
HB 123: Changes the definition of “child molestation” to include by means of an electronic device (i.e. webcam).
HB 195: Allows members of electric membership corporations to serve on juries where the EMC is a party, unless the judge finds bias.
HB 237: Allows adoptive parents of hard-to-place foster children to receive financial assistance.
HB 227: Provides that registered voters who have obtained a protective order or who are receiving services for domestic violence may request to have their address remain confidential.
HB 482: Would eliminate the state inventory tax on all Georgia businesses.
HB 484: Provides that dependent children of military personnel stationed in Georgia on active duty are eligible to meet the residency requirements of HOPE scholarships and grants.
HB 552: Extends the ban which states that no well or borehole will be drilled or used for the purpose of injecting any surface water into the Floridian aquifer in any county governed by the Georgia coastal zone management program before July 1, 2014.
Please remember to contact me in my office on the issues that are affecting you and your area. I am here to represent you and it is an honor for me to work on your behalf. As always, I’d like to thank members of the Senate staff, who contribute regularly to my column.
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Sen. Greg Goggans represents the 7thSenate District, which includes Atkinson, Bacon, Berrien, Clinch, Coffee, Echols, Lanier, Pierce and Ware counties and a portion of Cook County.
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