Georgia Legislative Watch

HB10 – Income tax credit; 5 percent of Earned Income Credit; provisions
Sponsored by: McKillip,Doug 115th

A BILL to be entitled an Act to amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the imposition, rate, and computation of income tax, so as to provide for an income tax credit in an amount equal to 5 percent of the amount of the federal Earned Income Credit which the taxpayer has claimed and been allowed pursuant to Section 32 of the Internal Revenue Code of 1986, as amended; to provide for conditions and limitations; to provide for powers, duties, and authority of the state revenue commissioner with respect to the foregoing; to provide an effective date; to provide for applicability; to repeal conflicting laws; and for other purposes.