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More Tax Credit/Exemption Repeals: Summary of SB432

Friday, February 16, 2018   (0 Comments)
Posted by: Kelly McLendon
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·       On Feb. 15, Senator Albers introduced SB432, a bill to phase out several tax credits and exemptions.

·       As of December 31, 2018, the following credits/exemptions are repealed:

o   Income tax credits for private driver education courses;

o   Income tax credits for federal qualified transportation fringe benefits;

o   Income tax credits for diesel particulate emission reduction technology equipment;

·       As of December 31, 2019, the following credits/exemptions are repealed:

o   Income tax credits for rural physicians;

o   Exemptions relating to the Georgia State Society of the Daughters of the American Revolution;

o   Art or artifacts sold to a museum for display;

o   Fundraising or religious paper sales by religious institutions;

o   Materials used to renovate or expand an aquarium;

o   Materials used in the construction of a competitive project of regional significance;

o   Income tax credits for qualified low-income housing;

o   Income tax credits for depository financial institutions;

o   Income tax credits for clean energy property;

o   Income tax credits for the purchase of a single-family home;

o   Income tax credits for business enterprises in less developed areas;

o   Income tax credits for employers providing approved retraining programs;

o   Tax credits for business enterprises for leased motor vehicles, daily ridership, and implementation;

o   Income tax credits for basic skills education program

·       As of December 31, 2020, the following credits/exemptions are repealed:

o   Exemptions related to pipe organs or steeple bells for nonprofit churches;

o   Rentals for videotapes or films or those charging admission to view the film;

o   The Rock Eagle 4-H Center;

o   Nonprescription insulin syringes and blood glucose level measuring strops;

o   Food and food ingredients used for disaster relief after a natural disaster;

o   Sod grass sold in the original state of production;

o   Income tax credits for employers providing childcare;

o   Optional income tax credits for existing manufacturing and telecommunications facilities in tier 1, 2, 3, & 4 counties;

o   Alternative tax credits for base year port traffic increases;

o   Income tax credits for certain qualified investments for a limited period of time;

·       As of December 31, 2021, the following credits/exemptions are repealed;

o   Exemptions related to transactions using food stamps or WIC coupons

o   Food or beverages sold by a Girl or Boy Scout council;

o   Income tax credits for qualified donation of real property, carryover of credit, appraisals, transfer of credit and penalty;

o   Income tax credits for qualified education expenses;

o   Income tax credits for qualified investments;

o   Limitation on credit for qualified investment tax credit;

·       As of December 31, 2022, the following credits/exemptions are repealed:

o   Exemptions related to organizations that provide services to those with intellectual disabilities;

o   Concessions or tickets for admission to private or public school functions;

o   Sales by nonprofit parent-teacher organizations;

o   Food purchased for off-premises consumption;

o   Sales by or to organizations that raise funds for public libraries;

o   Admission to nonrecurring major sporting events;

o   Sales to a qualified job training organization

o   Income tax credits for retrofitting certain single-family homes with accessibility features;

o   Income tax credits for disaster assistance;

o   Income tax credits for qualified health expenses;

o   Income tax credits for adoption of foster children;

·       As of December 31, 2023, the following credits/exemptions are repealed:

o   Exemptions related to prescription drugs,

o   Exemptions related to glasses and contact lenses;

o   Exemptions related to prescribed oxygen;

o   Exemptions related to hearing aids;

o   Exemptions related to medical equipment;

o   Exemptions related to prosthetic devices

o   Income tax credits for qualified life insurance premiums for National Guard & Air National Guard members;

o   Income tax credits for existing manufacturing and telecommunications facilities in tier 1, 2, 3, & 4 counties;

o   Additional job tax credit based on increase in port traffic;

·       As of December 31, 2024, the following credits/exemptions are repealed:

o   Exemptions related to charges for transportation of property, machinery or equipment used to reduce or eliminate air or water pollution;

o   Exemptions related to machinery or equipment used for water conservation in a water conservation facility;

o   Exemptions related to major components or repair parts for military aircraft, vehicles or missiles;

o   Exemptions related to prescribed mobility enhancement equipment;

o   Exemptions related to parts used in repairing an aircraft

·       As of December 31, 2025, the following credits/exemptions are repealed:

o   Exemptions related to property or services used for treatment in nursing homes, inpatient hospices, and general or mental hospitals;

o   Exemptions related to certain vehicles for disabled veterans;

o   Exemptions related to nonprofit child-caring institutions, child-placing agencies, or maternity homes;

o   Exemptions related to nonprofit blood banks; and

o   Exemptions related to funeral merchandise when paid for by the Georgia Crime Victims Emergency Fund. 


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