10 LC 18
8773
House
Bill 1077
By:
Representatives Fludd of the
66th,
Stephens of the
164th,
and Mosby of the
90th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Title 48 of the Official Code of Georgia Annotated, relating to revenue
and taxation, so as to increase the excise tax on motor fuel; to provide for an
income tax credit for qualified motor fuel expenses; to provide for a
definition; 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.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Title
48 of the Official Code of Georgia Annotated, relating to revenue and taxation,
is amended by revising paragraph (1) of subsection (a) of Code Section 48-9-3,
relating to the excise tax on motor fuel, as follows:
"(a)(1)
An excise tax is imposed at the rate of
7
1/2
10
1/2¢ per gallon on distributors who
sell or use motor fuel within this state. It is the intention of the General
Assembly that the legal incidence of the tax be imposed upon the
distributor."
SECTION
2.
Said
title is further amended by adding a new Code section to read as
follows:
"48-7-29.18.
(a)
As used in this Code section, the term 'qualified motor fuel expense' means the
expenditure of funds by a taxpayer who resides in this state for motor fuel
purchased in this state in the tax year for which the credit under this Code
section is claimed and allowed.
(b)
A taxpayer shall be allowed a credit against the tax imposed by Code Section
48-7-20 for motor fuel expenses in an amount not to exceed 1¢ per gallon of
the total number of gallons purchased.
(c)
In no event shall the total amount of the tax credits under this Code section
for a taxable year exceed the taxpayer's income tax liabilities. Any unused tax
credit shall be allowed the taxpayer against succeeding years' tax liabilities.
No such tax credit shall be allowed the taxpayer against prior years' tax
liability.
(d)
The commissioner shall be authorized to promulgate any rules and regulations
necessary to implement and administer the provisions of this Code
section."
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval, and Section 2 of this Act shall be
applicable to all taxable years beginning on or after January 1,
2010.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.