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HB 0059 - Revenue and taxation; tax credits for rehabilitation of historic structures; revise procedures, conditions, and limitations

Tracking Level: Monitor
Sponsor: Ron Stephens (R)
Last Action: 3/29/2018 - House Disagreed Senate Amend or Sub
House Committee: Ways & Means
Senate Committee: Finance

Staff Analysis of the Legislation
HB 59 amends Code Section 48-7-29.8 of the OCGA by removing sections 2 and 3 stating the maximum credit for a certified structure should be $5 million, including those projects that exceed $300,000.00 in credits. In addition, HB 59 adds that taxpayer applications for preapproval of tax credits who are party to a fully executed written agreement can be submitted. HB 59 also removes the statement that no further sale or assignment shall be allowed.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text