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Committee hears bill to reauthorize and expand Georgia conservation tax credit through 2031
Summary
Sponsor presented HB 1148 to reauthorize the state's conservation tax credit through 2031, raise the credit from 25% to 50% of appraised value, cap credits at $500,000 for individuals and $1,000,000 for partnerships, and establish a laddered $25 million annual aggregate cap; land trusts and conservation groups urged support and said process changes would speed approvals.
Representative Cannon presented HB 1148 to reauthorize the Georgia conservation tax credit for five additional years through 2031 and to increase the per-property credit from 25% to 50% of appraised fair-market value, subject to caps of $500,000 for individuals and $1,000,000 for partnerships. The sponsor said the bill would set an aggregate annual cap of $25,000,000 implemented in a laddered approach beginning with a $5,000,000 cap in the first year, and would…
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