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State auditors present reviews of eight tax incentives; lawmakers hear limited fiscal returns and methodological caveats
Summary
Department of Audits staff and university researchers briefed a joint House-Senate committee on audits of eight Georgia tax incentives, reporting mixed economic impacts, methodological limits and several items with little or no "but‑for" effect on activity within the review period.
Matt Taylor of the Georgia Department of Audits and researchers from Georgia Southern, Georgia State and the University of Georgia told a joint meeting of the House Ways and Means and Senate Finance committees on Wednesday that this is "the 3rd year for the reports" produced under state law and that last year's change in statute increased the number of reports chairs may request.
The presentations reviewed eight tax incentives requested in 2024, including a bank tax credit, the coin-operated amusement machine (COAM) sales tax exemption, tax treatment of construction and professional services, the global intangible low-taxed income (GILTI) exclusion, an insurance premium tax abatement, jet fuel and a natural-gas sales tax exemption. "The law allows the chairs to request up to 5 reports each," Taylor said, adding that Senate Bill 366, effective Jan. 1, 2025, now…
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