Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Relief topic
No spam. Unsubscribe anytime.
Committee approves one-time tax-credit checks for 2024 filers; bill advances unanimously
Summary
HB 112 would provide a one-time state tax credit to 2023/2024 filers: $500 for joint filers, $375 for head-of-household filers and $250 for single filers. The Senate Finance Committee passed the bill by voice vote; sponsor said the measure is budgeted at about $1.1 billion.
Representative McDonald presented House Bill 112 to the Senate Finance Committee and described it as a one-time tax-credit payment targeted to filers of the 2023–2024 tax year. “It is a one-time…for those Georgians that your tax liability is, for joint filers, it'll be $500. For head-of-household filers, $375. And for individual filers, $250,” McDonald said, and he described a budgetary estimate of roughly $1.1 billion in total cost.
Senator Beach spoke in support, saying, “Anytime we can give money back to the taxpayers, that's a great thing.” Committee members debated whether a permanent rate reduction or a one-time credit was the better policy. Senator Beach said he preferred permanent rate reductions in principle, while others favored the immediate relief a one-time credit provides.
Committee members asked technical questions about eligibility for part-year residents and nonresident taxpayers. Sponsors explained prorations will be handled based on the ratio of Georgia taxable income for part-year or nonresident filers.
Senator Beach moved to pass HB 112; members raised hands for a voice tally and the motion carried unanimously. Senator Drew Echols was identified as the Senate sponsor when the bill moves from the committee.
What’s next: The bill advances to the Senate Rules calendar. Sponsors and members noted competing policy views about permanent versus one-time tax relief but agreed to advance the measure in this form.
