Georgia House of Representatives - 1995/1996 Sessions

HB 34 - Public Revenue Code; reference date; Internal Revenue Code

Page Numbers - 1/ 2

1. Buck  135th            2. Jamieson  22nd          3. Skipper  137th
4. Royal  164th           5. Culbreth  132nd


House Comm: W&M        /                Senate Comm: F&PU       /               
House Vote: Yeas 165   Nays 0           Senate Vote: Yeas 47  Nays 0            
              ----------------------------------------                          
               House          Action         Senate                             
              ----------------------------------------                          
              1/9/95   Read 1st Time         2/1/95                             
              1/10/95  Read 2nd Time         2/15/95                            
              1/26/95  Favorably Reported    2/14/95                            
              1/31/95  Read 3rd Time         3/10/95                            
              1/31/95  Passed/Adopted        3/10/95                            
              3/23/95  Sent to Governor                                         
              4/7/95   Signed by Governor                                       
              256      Act/Veto Number                                          
              4/7/95   Effective Date                                           
              ----------------------------------------                          
Rules Suspended to Introduce                                                    
                                                                                
Code Sections amended: 48-1-2                                                   


HB 34                                             LC 18 6444






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Chapter 1 of Title 48 of the Official Code of
  1- 2  Georgia Annotated, relating to general provisions of the
  1- 3  "Georgia Public Revenue Code," so as to revise provisions
  1- 4  relating to Georgia taxes; to define the terms "Internal
  1- 5  Revenue Code" and "Internal Revenue Code of 1986" and
  1- 6  thereby to incorporate provisions of federal law into
  1- 7  Georgia law; to provide that terms used in the Georgia law
  1- 8  shall have the same meaning as when used in a comparable
  1- 9  provision or context in federal law; to provide for other
  1-10  matters related to the foregoing; to provide for an
  1-11  effective date and applicability; to repeal conflicting
  1-12  laws; and for other purposes.

  1-13       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-14  Chapter 1 of Title 48 of the Official Code of Georgia
  1-15  Annotated, relating to general provisions of the "Georgia
  1-16  Public Revenue Code," is amended by striking paragraph (14)
  1-17  of Code Section 48-1-2, relating to definitions of terms,
  1-18  and inserting in its place a new paragraph to read as
  1-19  follows:

  1-20      "(14) 'Internal Revenue Code' or 'Internal Revenue Code
  1-21      of 1986' means the United States Internal Revenue Code
  1-22      of 1986 provided for in federal law enacted on or before
  1-23      January 1, 1994 1995.  In the event a reference is made
  1-24      in this title to the Internal Revenue Code or the
  1-25      Internal Revenue Code of 1954 as it existed on a
  1-26      specific date prior to January 1, 1994 1995, the term
  1-27      means the Internal Revenue Code or the Internal Revenue
  1-28      Code of 1954 as it existed on the prior date.  Unless
  1-29      otherwise provided in this title, any term used in this
  1-30      title shall have the same meaning as when used in a
  1-31      comparable provision or context in the Internal Revenue
  1-32      Code of 1986."

                         SECTION 2.



                                 -1- (Index)

                                                  LC 18 6444

  2- 1  This Act shall become effective upon its approval by the
  2- 2  Governor or upon its becoming law without such approval and
  2- 3  shall apply to taxable years beginning on or after January
  2- 4  1, 1995.  Provisions of the Internal Revenue Code of 1986
  2- 5  which were as of January 1, 1995, enacted into law but not
  2- 6  yet effective shall become effective for purposes of Georgia
  2- 7  taxation on the same dates upon which they become effective
  2- 8  for federal tax purposes.

                         SECTION 3.

  2- 9  All laws and parts of laws in conflict with this Act are
  2-10  repealed.




































                                 -2- (Index)