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Committee backs Keep Georgia Forested Act to make forestry tax credits transferable
Summary
The Finance Committee unanimously passed HB1085 (LC 44-35-36S), the Keep Georgia Forested Act, which would make existing forestry job and investment tax credits transferable (capped at $250 million) and include a five-year sunset to encourage new investment in mills and wood manufacturing.
The Senate Finance Committee unanimously advanced the Keep Georgia Forested Act (House Bill 1085, LC 44-35-36S), a measure designed to stimulate investment in Georgia’s forestry manufacturing sector by making certain job-creation and investment tax credits transferable.
Representative Petrie, the bill sponsor in the hearing, described the measure as tailored to forestry manufacturing and intended to revive an industry that has lost multiple mills. "We call this bill the Keep Georgia Forested Act," he said, explaining the bill makes existing credits…
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