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HB 35 - Income tax; dependent deductions; amend provisions

Royal, A. Richard (164th)	Buck, III, Thomas B (135th)

Status Summary	HC:	W&M	SC:	F&PU	FR:	01/12/99	LA:	01/24/00	S - Recommitted

First Reader Summary

A BILL to amend Code Section 48-7-26 of the Official Code of Georgia Annotated, relating to personal exemptions regarding the computation of Georgia taxable income, so as to change certain provisions with respect to dependent deductions; and for other purposes.

HB 35                                              LC 18 9157 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Code Section 48-7-26 of the Official Code of 
  1- 2  Georgia Annotated, relating to personal exemptions regarding 
  1- 3  the computation of Georgia taxable income, so as to change 
  1- 4  certain provisions with respect to dependent deductions; to 
  1- 5  repeal conflicting laws; and for other purposes. 
 
  1- 6       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1- 7                           SECTION 1. 
 
  1- 8  Code Section 48-7-26 of the Official Code of Georgia 
  1- 9  Annotated, relating to personal exemptions regarding the 
  1-10  computation of Georgia taxable income, is amended by 
  1-11  striking paragraphs (3) and (4) of subsection (b) and 
  1-12  inserting in their place a new paragraph (3) to read as 
  1-13  follows: 
 
  1-14        "(3)(A) For taxable years beginning on or after 
  1-15        January 1, 1994, and prior to January 1, 1995, an 
  1-16        exemption of $2,000.00 for each dependent of a 
  1-17        taxpayer shall be allowed as a deduction in computing 
  1-18        Georgia taxable income of the taxpayer. 
 
  1-19        (B) For taxable years beginning on or after January 1, 
  1-20        1995, and prior to January 1, 1998, an exemption of 
  1-21        $2,500.00 for each dependent of a taxpayer shall be 
  1-22        allowed as a deduction in computing Georgia taxable 
  1-23        income of the taxpayer. 
 
  1-24        (C) For taxable years beginning on or after January 1, 
  1-25        1998, and prior to January 1, 2003, an exemption of 
  1-26        $2,700.00 for each dependent of a taxpayer shall be 
  1-27        allowed as a deduction in computing Georgia taxable 
  1-28        income of the taxpayer. 
 
  1-29        (D) For (4) Commencing with the taxable year years 
  1-30        beginning on or after January 1, 2003, an exemption of 
  1-31        $3,000 $3,000.00 for each dependent of a taxpayer 
  1-32        shall be allowed as a deduction in computing Georgia 
  1-33        taxable income of the taxpayer." 
 
 
 
                                 -1- 
 
 
 
  2- 1                           SECTION 2. 
 
  2- 2  All laws and parts of laws in conflict with this Act are 
  2- 3  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 -2-