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Committee approves Small Business Resiliency Act to give employers shrinking tax credits for employee benefits
Summary
The committee approved LC590386s, the Small Business Resiliency Act, which provides a five-year, declining tax credit for small employers who help employees obtain health insurance and other supports; sponsor said the bill passed subcommittee unanimously and has chamber support.
The committee voted to approve the Small Business Resiliency Act (LC590386s), a measure the sponsor said would give small employers a tax credit for helping employees obtain health insurance and other supports.
The author said the bill provides a five-year tax credit that tapers over time and includes a cap and a five‑year sunset. "If you have some skin in the game, and you help your employees acquire health insurance ... you'll receive a tax credit for a period of 5 years that declines over time," the sponsor said. The sponsor also noted support from the Georgia Chamber and NFIB.
With no questions raised, the committee moved and approved the bill by voice vote.
Next steps: The bill will be reported from committee and proceed through the legislative process.
