Georgia House of Representatives - 1995/1996 Sessions

HB 35 - Income tax; low-income credits; revise provisions

Page Numbers - 1/ 2/ 3

Code Sections - 48-7A-3

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


House Comm: W&M        /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
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               House          Action         Senate                                                 
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              1/9/95   Read 1st Time                                                                
              1/10/95  Read 2nd Time                                                                
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Rules Suspended to Introduce                                                                        
                                                                                                    
Code Sections amended: 48-7A-3                                                                      


HB 35                                             LC 18 6446






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Chapter 7A of Title 48 of the Official Code of
  1- 2  Georgia Annotated, relating to low-income tax credits, so as
  1- 3  to revise and change the low-income tax credit schedule with
  1- 4  respect to calculating the amount of low-income tax credit
  1- 5  which may be claimed; to provide an effective date; to
  1- 6  repeal conflicting laws; and for other purposes.

  1- 7       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1- 8  Chapter 7A of Title 48 of the Official Code of Georgia
  1- 9  Annotated, relating to low-income tax credits, is amended by
  1-10  striking Code Section 48-7A-3, relating to claiming the
  1-11  low-income tax credit, and inserting in its place a new Code
  1-12  Section 48-7A-3 to read as follows:

  1-13    "48-7A-3. (Index)

  1-14    (a) Except as otherwise provided in subsection (e) of this
  1-15    Code section, each resident taxpayer who files an
  1-16    individual income tax return for a taxable year and who is
  1-17    not claimed or is not otherwise eligible to be claimed as
  1-18    a dependent by another taxpayer for federal or Georgia
  1-19    individual income tax purposes may claim a tax credit
  1-20    against the resident taxpayer's individual income tax
  1-21    liability for the taxable year for which the individual
  1-22    income tax return is being filed; provided that:

  1-23      (1) A husband and wife filing a joint return shall each
  1-24      be deemed a dependent for purposes of such joint return;

  1-25      (2) A husband and wife filing separate returns for a
  1-26      taxable year for which a joint return could have been
  1-27      filed by them shall claim only the tax credit to which
  1-28      they would have been entitled had a joint return been
  1-29      filed; and

  1-30      (3) A resident individual who has no income or no income
  1-31      taxable under this chapter and who is not claimed or is
  1-32      not otherwise eligible to be claimed as a dependent by a


                                 -1- (Index)

                                                  LC 18 6446

  2- 1      taxpayer for federal or Georgia individual income tax
  2- 2      purposes may also claim a tax credit as set forth in
  2- 3      this Code section.

  2- 4    (b) Each taxpayer may claim a tax credit in the amount
  2- 5    provided in the schedule specified in this subsection
  2- 6    multiplied by the number of dependents which the taxpayer
  2- 7    is entitled to claim.  Each taxpayer 65 years of age or
  2- 8    over may claim double the tax credit.

  2- 9                      TAX CREDIT SCHEDULE

  2-10       Adjusted Gross Income
  2-11      of All Persons Residing
  2-12         in the Household                           Tax Credit

  2-13    Under $6,000.00 $7,999.00....................$ 26.00 30.00

  2-14    6,000.00 $7,999.00 but not more than
  2-15    7,999.00 $9,999.00...........................  20.00 24.00

  2-16    8,000.00 $10,000.00 but not more than
  2-17    9,999.00 $14,999.00..........................  14.00 20.00

  2-18    10,000.00 $14,999.00 but not more than
  2-19    14,999.00 $19,999.00.........................   8.00 17.00

  2-20    15,000.00 $19,999.00 but not more than
  2-21    19,999.00 $30,000.00.........................   5.00 15.00

  2-22    (c) The tax credit claimed by a resident taxpayer pursuant
  2-23    to this Code section shall be deductible from the resident
  2-24    taxpayer's individual income tax liability, if any, for
  2-25    the tax year in which it is properly claimed.  In the
  2-26    event the tax credit claimed by a resident taxpayer
  2-27    exceeds the amount of income tax payment due from the
  2-28    resident taxpayer, the excess of the credit over payments
  2-29    due shall be refunded to the resident taxpayer; provided,
  2-30    however, that:

  2-31      (1) A a tax credit properly claimed by a resident
  2-32      individual who has no income tax liability shall be paid
  2-33      to the resident individual; and provided further that

  2-34      (2) No no refunds or payment on account of the tax
  2-35      credit allowed by this Code section shall be made for
  2-36      amounts less than $1.00.

  2-37    (d) All claims for a tax credit under this Code section,
  2-38    including any amended claims, must be filed on or before
  2-39    the end of the twelfth month following the close of the



                                 -2- (Index)

                                                  LC 18 6446

  3- 1    taxable year for which the credit may be claimed.  Failure
  3- 2    to comply with this subsection shall constitute a waiver
  3- 3    of the right to claim the credit.

  3- 4    (e) Any individual who receives a food stamp allotment for
  3- 5    all or any part of a taxable year shall not be entitled to
  3- 6    claim a credit under this Code section for that taxable
  3- 7    year.

  3- 8    (f) The commissioner shall be authorized by rule and
  3- 9    regulation to provide for the proper administration of
  3-10    this Code section."

                         SECTION 2.

  3-11  This Act shall become effective upon its approval by the
  3-12  Governor or upon its becoming law without such approval.

                         SECTION 3.

  3-13  All laws and parts of laws in conflict with this Act are
  3-14  repealed.





























                                 -3- (Index)