Popular on Rezul


Similar on Rezul

Georgia: Gov. Kemp Signs Legislation Lowering Taxes and Supporting Economic Growth

Rezul News/10734973
ATLANTA - Governor Brian P. Kemp, joined by First Lady Marty Kemp, Lieutenant Governor Burt Jones, Speaker Jon Burns, Office of Planning and Budget Director Rick Dunn, Georgia Department of Revenue Commissioner David Burge, members of the General Assembly, and other economic and business partners, signed multiple bills into law today supporting the state's economy and reducing the tax burden on hardworking Georgians.

"We've remained the No. 1 state for business for a historic 12 consecutive years because of our commitment to growing opportunity and budgeting conservatively," said Governor Brian Kemp. "That approach has allowed us to return billions of dollars to taxpayers, and the legislation I signed today will keep that momentum going as we further lower our state income tax rate, deliver on meaningful property tax relief, and ensure job creators have the opportunity to grow and thrive in the Peach State."

"I am proud that we have cut taxes every year I've been Lt. Governor, and I want to thank Governor Kemp for leading the charge," said Lt. Governor Burt Jones. "The bills being signed into law today help every family and business in Georgia. We are also supporting school choice and parents who want to decide on what's best for their child's educational needs by expanding the GOAL scholarship tax credit. This is a great day for Georgians."

"When Georgians across the state made clear that affordability was the number one issue they faced, Republican leadership delivered real, meaningful relief that allows hardworking taxpayers to keep more of their money where it belongs - in their pockets," said Speaker of the House Jon Burns. "From another historic income tax rebate and rate reduction to property tax relief and lower costs at the pump, the Georgia House was proud to champion measures delivering results when and where they were needed most."

Governor Kemp signed nine pieces of legislation, included below:

HB 1129, sponsored by Representative Devan Seabaugh, was a legislative priority of Governor Kemp. It creates guardrails for state-designated enterprise zones.

More on Rezul News
HB 1185, sponsored by Representative Chuck Efstration, was another priority for the Kemp Administration. It modernizes complex corporate litigation policies and revises some standards around the Georgia Statewide Business Court.

SB 33 was a priority of Speaker Jon Burns. It enacts broad property tax reform by establishing a new Local Homestead Option Sales Tax (LHOST) aimed at providing homeowner tax relief and improving local fiscal management.

SB 111 was supported by Representative Angie O'Steen and expands the eligibility criteria for rural hospital organizations to include rural freestanding emergency departments and lowers indigent care thresholds, ultimately broadening access to tax-credit-eligible contributions for rural healthcare providers in Georgia.

HB 328, sponsored by Representative Kasey Carpenter, increases the tax credit for student scholarship organizations (SSO), expands student eligibility, and increases accountability measures for program providers.

More on Rezul News
HB 445, sponsored by Representative Chuck Martin, expands the right of business owners in Georgia to appeal tax reassessments of certain high-value tangible personal property to a hearing officer, and establishes new qualifications and procedures for officers handling appeals.

HB 463 lowers Georgia's state income tax rate from 5.19% to 4.99%, beginning January 1, 2026. It includes provisions for further annual reductions of the state income tax rate as well as increases of the standard deduction. It raises the retirement income exclusion to $70,000 beginning in 2027 and introduces temporary tax exclusions for qualified overtime compensation and cash tips through 2028. It also repeals some tax credits and sales and use tax exemptions. This legislation fulfills Governor Kemp's promise to accelerate the largest state income tax cut in state history, reaching a rate below 5% three years ahead of schedule.

HB 987, sponsored by Representative Todd Jones, codifies a voluntary framework for independent contractors to receive portable benefits through dedicated accounts, allowing contributions without affecting their employment classification.

HB 1209, sponsored by Representative Ron Stephens, establishes a limited sales and use tax exemption for construction materials used in specific developments near certain state-owned convention facilities.

Governor Kemp and First Lady Marty Kemp are grateful for all those who contributed to the legislation signed today.

Filed Under: Government, State
Show All News | Disclaimer | Report Violation

0 Comments

Latest on Rezul News