Plain English Breakdown
The bill summary states it provides for an effective date, but no specific date is listed in the provided metadata or text excerpts.
Georgia Income Tax Credit for Earned Workers
This bill creates a state income tax credit equal to 20 percent of the federal earned income tax credit.
What This Bill Does
- Creates an income tax credit worth 20% of the federal earned income tax credit amount.
- Amends Chapter 7 of Title 48 in Georgia law regarding state income taxes.
- Provides for rules and regulations to manage how this new credit works.
- Repeals any existing laws that conflict with these changes.
Who It Names or Affects
- Taxpayers eligible for the federal earned income tax credit
Limits and Unknowns
- The official text mentions an effective date but does not state a specific calendar date.
- The bill provides for rules and regulations but does not list the details of how to claim the credit.