HB 83 - Revenue Code; conformity with certain federal law

First Reader Summary

A BILL to amend Chapter 1 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions of the "Georgia Public Revenue Code," so as to revise provisions relating to Georgia taxes; to define the terms "Internal Revenue Code" and "Internal Revenue Code of 1986" and thereby to incorporate provisions of federal law into Georgia law; and for other purposes.

Page Numbers - 1/ 2

Recorded Votes

• Vote # 58 PASS 02/03/97

HB 83                                              LC 18 7762 
 
 
 
 
 
 
                        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: 
 
  1-14                           SECTION 1. 
 
  1-15  Chapter 1 of Title 48 of the Official Code of Georgia 
  1-16  Annotated, relating to general provisions of the "Georgia 
  1-17  Public Revenue Code," is amended by striking paragraph (14) 
  1-18  of Code Section 48-1-2, relating to definitions of terms, 
  1-19  and inserting in its place a new paragraph to read as 
  1-20  follows: 
 
  1-21      "(14) 'Internal Revenue Code' or 'Internal Revenue Code 
  1-22      of 1986' means the United States Internal Revenue Code 
  1-23      of 1986 provided for in federal law enacted on or before 
  1-24      January 1, 1996 1997.  In the event a reference is made 
  1-25      in this title to the Internal Revenue Code or the 
  1-26      Internal Revenue Code of 1954 as it existed on a 
  1-27      specific date prior to January 1, 1996 1997, the term 
  1-28      means the Internal Revenue Code or the Internal Revenue 
  1-29      Code of 1954 as it existed on the prior date.  Unless 
  1-30      otherwise provided in this title, any term used in this 
  1-31      title shall have the same meaning as when used in a 
  1-32      comparable provision or context in the Internal Revenue 
  1-33      Code of 1986." 
 
 
 
 
                                 -1- 
 
 
 
  2- 1                           SECTION 2. 
 
  2- 2  This Act shall become effective upon its approval by the 
  2- 3  Governor or upon its becoming law without such approval and 
  2- 4  shall apply to taxable years beginning on or after January 
  2- 5  1, 1996 1997.  Provisions of the Internal Revenue Code of 
  2- 6  1986 which were as of January 1, 1996 1997, enacted into law 
  2- 7  but not yet effective shall become effective for purposes of 
  2- 8  Georgia taxation on the same dates upon which they become 
  2- 9  effective for federal tax purposes. 
 
  2-10                           SECTION 3. 
 
  2-11  All laws and parts of laws in conflict with this Act are 
  2-12  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 -2-