Plain English Breakdown
The provided bill text excerpt contains significant binary data (PDF stream) that is unreadable, so specific details like effective dates or calculation formulas could not be verified from this source alone.
HB364: Tax Credit for Noncustodial Parents
This bill changes Georgia income tax rules to allow a noncustodial parent to claim a state tax credit based on the federal qualified child and dependent care tax credit.
What This Bill Does
- Amends Chapter 7 of Title 48 of the Official Code of Georgia Annotated regarding income taxes.
- Allows a noncustodial parent to claim a tax credit tied to the federal qualified child and dependent care tax credit.
Who It Names or Affects
- Noncustodial parents in Georgia who may be eligible for this new state tax credit.
Limits and Unknowns
- The official text provided does not specify the exact dollar amounts or calculation methods for the credit.
- The specific effective date and which tax years apply are mentioned as provisions in the bill but are not detailed in this summary.