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Georgia panel hears bill to extend and expand conservation tax credit
Summary
Representative Chaz Cannon told the Ways & Means subcommittee HB 11486 would reauthorize Georgia’s conservation tax credit through 2031, raise the credit to 50% of fair-market value for permanently restricted land and set aggregate annual credits at $30 million; the committee advanced the matter after brief questions about appraisals and administration.
Representative Chaz Cannon asked the Income Tax Subcommittee to reauthorize the Georgia conservation tax credit in House Bill 11486 and described several changes he said would increase conservation incentives.
"It extends the credit for another 5 years through 2031," Cannon said, adding the substitute raises the credit from 25% to 50% of fair-market value for lands placed under…
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