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Committee passes routine Internal Revenue Code update to align state code with federal changes
Summary
The Senate Finance Committee unanimously passed House Bill 290, the annual Internal Revenue Code (IRC) update adopting specified federal changes into Georgia's Title 48; sponsors said the bill contains two federal-related updates and a small net revenue impact.
The Senate Finance Committee unanimously passed House Bill 290, the annual measure updating Georgia’s Internal Revenue Code to align state law with specified federal changes.
Representative Carson presented the bill and described it as a routine, housekeeping update to Title 48. He told the committee the measure adopts two federal changes: disaster-relief provisions from the federal Disaster Relief Act of 2023 (related to wildfire and East Palestine derailment payments, which do not affect Georgia directly) and a federal change under the VSO Equal Tax Treatment Act (VETT) that excludes certain grant payments to veteran-service organizations from taxable income.
Carson said the bill’s net fiscal impact is less than $1 million in reduced revenue and that tax-preparation firms are awaiting the change to finalize software. Senator Rhett seconded the motion; the committee approved the bill by voice vote with no roll-call tally recorded in the transcript. The sponsor in the Senate was identified only as a senator from Roswell who volunteered after a text, per the transcript.
