Plain English Breakdown
The official summary confirms the bill provides for a credit but does not specify the value or eligibility thresholds.
Tax Credit for Living Wage Jobs
This bill amends Georgia's income tax laws to create a new credit for jobs that pay a living wage.
What This Bill Does
- Amends the state code regarding income taxes, rates, and credits in Title 48 of the Official Code of Georgia Annotated.
- Provides for a specific tax credit for living wage jobs.
- Sets rules for amounts, conditions, and limitations on the credit.
- Includes definitions needed for the law to work.
- Allows state officials to create rules and regulations to run the program.
Who It Names or Affects
- Employers in Georgia who may qualify for a tax credit
- Workers employed at jobs that meet the living wage definition
Terms To Know
- Tax credit
- An amount subtracted from taxes owed, as provided by this new law.
- Living wage job
- A type of employment defined within the bill that qualifies for a tax credit.
Limits and Unknowns
- The exact dollar amount or percentage of the tax credit is not listed in the summary.
- The specific definition or hourly rate required to be considered a 'living wage' is not included here.
- There is no effective date shown, so it is unknown when this law starts.