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Senate passes tax-conformity bill after heated debate over low-income housing credits
Summary
After hours of floor debate about state conformity to recent federal tax changes, the Georgia Senate adopted a committee substitute to House Bill 1199 that declines to match an expanded federal low-income housing tax credit; sponsors said conformity would cost the state hundreds of millions, while opponents warned the change could disrupt existing housing deals and reduce affordable housing production.
The Georgia State Senate passed House Bill 1199 by substitute on a 31–18 vote after extended debate over whether the state should conform to recent federal changes to the Internal Revenue Code, including an expansion of the low-income housing tax credit.
Senator Huffetler of the 52nd, speaking for the bill, said full conformity would carry a substantial cost if the state matched the federal expansion, and that the proposed language limits Georgia’s exposure to those federal changes. "The one this year was a little bit unusual," he said, saying a full match could have cost roughly $890.8 million in the first year and that the Senate has typically chosen to conform only to selected federal provisions.
Opponents framed the change as…
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