House Bill 136 (AS PASSED HOUSE AND SENATE)
By: Representatives Newton of the 127th, Blackmon of the 146th, Rhodes of the 124th, Cox
of the 28th, Prince of the 132nd, and others
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to
income taxes, so as to revise and create new tax credits related to children; to increase the
state tax credit for certain child and dependent care expenses; to create new tax credits for
individuals with children under the age of six, for employers that pay certain child care
expenses, and for insurance companies against insurance premium tax liability for
contributions to qualified organizations that support foster children and justice involved
youth; to provide for terms, conditions, limitations, and procedures for such credits; to revise
a tax credit for contributions to foster child support organizations; to expand the
organizations that qualify for such contributions; to allow such organizations to include as
qualified expenditures certain services for justice involved youth; to provide for the services
that are qualified expenditures; to provide for reporting requirements; to provide for
certifying and decertifying qualified organizations; to provide for information sharing and
limitations thereof; to provide for definitions; to provide for rules and regulations; to provide
for a sunset; to provide for related matters; to provide for effective dates and applicability;
to repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
PART I
SECTION 1-1.
Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to income taxes,
is amended by revising Code Section 48-7-29.10, relating to tax credits for qualified child
and dependent care expenses, as follows:
"48-7-29.10.
(a) A taxpayer shall be allowed a credit against the tax imposed by Code Section 48-7-20
for qualified child and dependent care expenses. <del>Such credit shall be determined by
applying a percentage to</del> <ins>The amount of such credit shall be equal to 50 percent of</ins> the
amount of the credit provided for in Section 21 of the Internal Revenue Code which is
claimed and allowed pursuant to the Internal Revenue Code. <del>Such percentage shall be:
(1) Ten percent for all taxable years beginning on or after January 1, 2006, and prior to
January 1, 2007;
(2) Twenty percent for all taxable years beginning on or after January 1, 2007, and prior
to January 1, 2008; and
(3) Thirty percent for all taxable years beginning on or after January 1, 2008.
</del> (b) In no event shall the total amount of the tax credit under this Code section for a taxable
year exceed the taxpayer's income tax liability. Any unused tax credit shall not be allowed
to be carried forward to apply to the taxpayer's succeeding years' tax liability. No such tax
credit shall be allowed the taxpayer against prior years' tax liability.
(c) The commissioner shall be authorized to promulgate any rules and regulations
necessary to implement and administer this Code section."
SECTION 1-2.
Said chapter is further amended by adding a new Code section to read as follows:
<ins>"48-7-29.27.
(a) As used in this Code section, the term 'qualifying child' shall have the same meaning
as set forth in Section 24(c) of the Internal Revenue Code, provided that such child has not
yet attained age six.
(b) For taxable years beginning on or after January 1, 2026, a taxpayer shall be allowed
a credit against the tax imposed by Code Section 48-7-20 in an amount equal to $250.00
for each qualifying child of the taxpayer.
(c) In no event shall more than one taxpayer be allowed the tax credit granted under this
Code section for the same qualifying child. In the case of parents or legal guardians who
do not file income taxes jointly for any reason, the child shall be the qualifying child for
only one parent or legal guardian, which shall be the parent or legal guardian who had
custody of the qualifying child for more than one-half of the tax year in question; provided,
however, that the noncustodial parent or legal guardian may claim the credit if:
(1) A court of competent jurisdiction has unconditionally awarded, in writing, the
noncustodial parent or legal guardian the tax credit authorized under this Code section,
and such parent or legal guardian attaches a copy of the court order with his or her tax
return; or
(2) The noncustodial parent or legal guardian attaches a copy of a written declaration
made by the custodial parent or legal guardian of a qualifying child that he or she assigns
the credit to the noncustodial parent or legal guardian and will not claim the credit
allowed under this Code section with respect to such child for such tax year.
(d) Notwithstanding the provisions of subsection (b) of this Code section, in the case of
any taxable nonresident or part-year resident whose tax was prorated as provided by Code
Section 48-7-85, the amount of the credit determined pursuant to such subsection shall be
prorated based on the ratio of income taxable to this state as properly reported on Schedule
3, Line 9 of the Georgia Form 500 for the taxable year.
</ins>
<ins>(e) In no event shall the total amount of the tax credit under this Code section for a taxable
year exceed the taxpayer's income tax liability. Any unused tax credit shall not be allowed
to be carried forward to apply to the taxpayer's succeeding years' tax liability. No such tax
credit shall be allowed the taxpayer against prior years' tax liability.
(f) The commissioner shall be authorized to promulgate rules and regulations necessary
to implement and administer the provisions of this Code section."
</ins> SECTION 1-3.
Said chapter is further amended by adding a new Code section to read as follows:
<ins>"48-7-29.28.
(a) As used in this Code section, the term:
(1) 'Child care facility' means a child care learning center or family child care learning
home that is permitted, licensed, or commissioned by the Department of Early Care and
Learning pursuant to Chapter 1A of Title 20.
(2) 'Eligible child care payments for employees' means payments:
(A) Made directly to a child care facility in the name and for the benefit of an
employee whose child is enrolled in such facility and is under the age of six;
(B) Which total at least $1,000.00 per taxable year for each employee for which such
payments are made; and
(C) That are made for an employee in addition to, and not in lieu of, any other
compensation and benefits for such employee.
(b) For taxable years beginning on or after January 1, 2026, a taxpayer shall be allowed
a credit against the tax imposed under this article for eligible child care payments for
employees in an amount:
(1) Equal to $500.00 per child for which such payments are made per taxable year; or
(2) Equal to $1,000.00 per child for which such payments are made if it is the first
taxable year in which the taxpayer provided eligible child care payments for employees
</ins>
<ins>and prior to such taxable year the taxpayer did not pay for, reimburse for, or otherwise
subsidize the costs of child care for employees.
(c) The aggregate amount of tax credits allowed pursuant to this Code section shall not
exceed $20 million per year.
(d) In no event shall the total amount of the tax credit under this Code section for a taxable
year exceed the taxpayer's income tax liability. Any unused tax credit shall not be allowed
to be carried forward to apply to the taxpayer's succeeding years' tax liability. No such tax
credit shall be allowed the taxpayer against prior years' tax liability.
(e) A taxpayer seeking to claim a tax credit pursuant to this Code section shall submit an
application to the department for preapproval of such tax credit in the manner specified by
the department. The department shall preapprove such application within 30 days based
on the order in which properly completed applications were submitted. In the event that
two or more applications were submitted on the same day and the amount of funds
available will not be sufficient to fully fund the amount requested, the department shall
prorate the available funds between or among the applicants.
(f) The commissioner shall promulgate any rules and regulations necessary to implement
and administer the provisions of this Code section.
(g) This Code section shall stand repealed and reserved on December 31, 2030."
</ins> PART II
SECTION 2-1.
Said chapter is further amended by revising Code Section 48-7-29.24, relating to tax credits
for contributions to foster child support organizations, as follows:
"48-7-29.24.
(a) As used in this Code section, the term:
(1) 'Aging foster children' means:
(A) Foster children aged 16 through 18 <del>that would benefit based on projected status at
age 18, as determined by the division;</del> and
(B) Former foster children <del>up to and including age 21, or age 25 if legally possible,
</del> <ins>aged 16 through 25</ins> who <del>have not been adopted or reunited with families</del> <ins>were in foster
care for at least six months after reaching age 14.
</ins> (2) 'Aging-out program' means a program with the primary function of supporting aging
foster children <ins>and justice involved youth.
(2.1) 'Business enterprise' means any insurance company or the headquarters of any
insurance company required to pay the tax provided for in Code Section 33-8-4.
</ins> (3) 'Division' means the Division of Family and Children Services of the Department of
Human Services.
(4) 'Foster child support organization' means:
(A) The aging-out program of the Technical College System of Georgia Foundation;
(B) The aging-out program of the University System of Georgia Foundation, provided
that such program is certified by the Governor's Office of Planning and Budget as an
aging-out program; or
(C) Any domestic nonprofit corporation which maintains nonprofit status under
Section 501(c)(3) of the Internal Revenue Code and tax exempt status under Code
Section 48-7-25, that has the primary function of:
(i) Operating an aging-out program <ins>that primarily supports aging foster children</ins> or
operating as or supporting a Georgia licensed child-placing agency <ins>or licensed
child-caring institution;</ins> or
(ii) Disbursing funds directly to one or more of the entities identified in
subparagraphs (A) or (B) or division (C)(i) of this paragraph.
<ins>(4.1) 'Justice involved youth' means youth aged 18 through 25 who:
</ins>
<ins>(A) Were previously or are currently committed to the Department of Juvenile Justice
pursuant to a court order as authorized by paragraph (11) of subsection (a) of Code
Section 15-11-601; and
(B) As a result of such commitment, have been previously placed or are currently
placed in a nonsecure facility or community setting.
(4.2) 'Mentorship services' means support services directly provided to an aging foster
child or justice involved youth by a mentor, such as role modeling, informal counseling,
guiding, motivating, and sharing time together.
</ins> (5) 'Qualified contributions' means the preapproved contribution of funds made during
the taxable year by a taxpayer <ins>or a business enterprise</ins> to a qualified organization under
the terms and conditions of this Code section.
(6) 'Qualified expenditures' means expenditures made by a qualified organization for <ins>the
following purposes; provided, however, that such term shall not include any expenditures
for which the qualified organization has received or is eligible to receive reimbursement
from the division:
</ins> (A) The costs associated with tuition waivers granted pursuant to Code Section
20-3-660;
(B) Wraparound services for <del>individuals</del> <ins>aging foster children and justice involved
youth who are:
(1) Enrolled in</ins> <del>attending</del> a public <ins>or private</ins> postsecondary educational institution
<del>under a waiver granted pursuant to Code Section 20-3-660; or
</del> <ins>(2) Enrolled in a program to obtain a high school diploma or its equivalent;
(3) Enrolled in a recognized vocational school; or
(4) Participating in a registered apprenticeship program, provided that the participant
and the organization for which the participant is an apprentice document that the
participant is compliant with the rules of the apprenticeship program; or
</ins>
(C) Mentorship services provided to aging foster children, <ins>and justice involved youth;
</ins> provided, <ins>however,</ins> that <ins>such expenditures shall not include:
(1) Compensation for a single mentor which exceeds</ins> <del>no mentor shall be compensated
in excess of</del> $100.00 per month for an aging foster child <ins>or justice involved youth</ins> or
<del>$500.00</del> <ins>$1,200.00</ins> per year for any aging foster child <ins>or justice involved youth; or
(2) Payments made to employees of a qualified organization who perform duties
other than providing mentorship services for the organization.
</ins> (7) 'Qualified organization' means a foster child support organization that has been
certified and listed by the division pursuant to subsection (d) of this Code section.
(8) 'Wraparound services' means services provided directly to aging foster children <ins>or
justice involved youth</ins> to support their education through <ins>high school completion,
vocational, and</ins> postsecondary education services, housing services, vocation services,
medical services, counseling services, mentorship services, nutrition services,
transportation services, <del>or</del> <ins>daily living essentials and clothing, and</ins> up to <del>$150.00</del> <ins>$200.00
</ins> per month in direct cash payments for use on personal necessities.
(b)(1) The aggregate amount of tax credits allowed under this Code section shall not
exceed $20 million <del>per</del> <ins>for</ins> calendar year <ins>2025. For calendar years 2026 and after, the
aggregate amount of tax credits allowed under this Code section shall not exceed $30
million per calendar year, and no more than $10 million of such aggregate amount shall
be allowed for business enterprises.
</ins> (2) Subject to the aggregate limit provided in paragraph (1) of this subsection and the
limitations of <del>subsection</del> <ins>subsections</ins> (b.1), <ins>(b.2), and (k)</ins> of this Code section, each:
<ins>(A) Taxpayer</ins> <del>taxpayer</del> shall be allowed a credit against the tax imposed by this chapter
for qualified contributions <del>made by the taxpayer on or after January 1, 2023,</del> as follows:
<del>(A)(i)</del> In the case of a single individual or a head of household, the actual amount of
qualified contributions made;
<del>(B)(ii)</del> In the case of a married couple filing a joint return, the actual amount of
qualified contributions made;
<ins>(C)(iii)</ins> Anything to the contrary contained in <del>subparagraph (A) or (B)</del> <ins>division (i) or
(ii)</ins> of this <del>paragraph</del> <ins>subparagraph</ins> notwithstanding, in the case of an individual
taxpayer who is a member of a limited liability company duly formed under state law,
a shareholder of a Subchapter 'S' corporation, or a partner in a partnership, the actual
amount of qualified contributions it made; provided, however, that tax credits
pursuant to this paragraph shall only be allowed for the portion of the income on
which such tax was actually paid by such member of the limited liability company,
shareholder of a Subchapter 'S' corporation, or partner in a partnership; or
<ins>(D)(iv) In the case of a</ins> <del>A</del> corporation or other entity not provided for in
<del>subparagraphs (A)</del> <ins>divisions (i)</ins> through <del>(C)</del> <ins>(iii)</ins> of this <del>paragraph shall be allowed a
credit against the tax imposed by this chapter, for qualified contributions in an amount
not to exceed</del> <ins>subparagraph,</ins> the actual amount of qualified contributions made; <ins>and
(B) Business enterprise shall be allowed a credit against the tax imposed by Code
Section 33-8-4 in an amount equal to its qualified contributions.
</ins> (b.1) For the period beginning on January 1 and ending on June 30 of each year, <del>an
individual</del> <ins>a</ins> taxpayer shall not be allowed <ins>a</ins> credit for contributions, and the commissioner
shall not preapprove any contributions, that exceed the following limits:
(1) In the case of a single individual or a head of household, $2,500.00;
(2) In the case of a married couple filing a joint return, $5,000.00;
(3) In the case of an individual who is a member of a limited liability company duly
formed under state law, a shareholder of a Subchapter 'S' corporation, or a partner in a
partnership, $5,000.00; or
(4) In the case of a corporation or other entity not provided for in paragraphs (1) through
(3) of this subsection, <del>10</del> <ins>30</ins> percent of such entity's income tax liability.
<ins>(b.2) For the period beginning on July 1 and ending on December 31 of each year, to the
extent that the aggregate amounts of tax credits authorized by subsection (b) of this Code
section have not been reached, the commissioner shall preapprove, deny, or prorate
additional requested amounts on a first come, first served basis and shall provide notice to
such taxpayer and the qualified organization of such preapproval, denial, or proration.
(b.3) A taxpayer that is preapproved for a tax credit allowed pursuant to this Code section
and that does not make a qualified contribution of the total preapproved amount shall be
allowed such credit in an amount not to exceed 95 percent of the amount of the qualified
contribution actually made by the taxpayer.
</ins> (c) <del>Not later than October 1, 2022, the</del> <ins>The</ins> commissioner shall establish a page on the
department's <ins>public</ins> website for the purpose of implementing this Code section. Such page
shall contain, at a minimum:
(1) A link to the division's web based application for certification as a qualified
organization as provided for in subsection (d) of this Code section;
(2) The current list of all qualified organizations;
(3) The total amount of tax credits remaining and available for preapproval for each year;
(4) A web based method for taxpayers <ins>or business enterprises</ins> seeking the preapproval
status for contributions; and
(5) The information received by the department from each qualified organization
pursuant to paragraph (1) of subsection (g) except for division (g)(1)(B)(iv) of this Code
section.
(d)(1) The division shall establish and maintain a web based application process for the
purpose of certifying foster child support organizations as qualified organizations. At a
minimum, such application created by the division shall include an agreement submitted
by the applicant to fully comply with the terms and conditions of this Code section.
(2) <del>The</del> <ins>(A) Subject to the requirements of this subsection, the</ins> division shall certify any
valid foster child support organization as a qualified organization upon successful
completion of such application process <ins>and shall decertify an organization that fails to
maintain the requirements to be a qualified organization or that the division determines
to have violated any other law.
(B) For any foster child support organization that is not a Georgia licensed
child-placing agency or licensed child-caring institution or that meets the definition of
such term only as set forth in division (a)(4)(C)(ii) of this Code section to be certified
as a qualified organization, such organization shall provide documentation
demonstrating that for a period of at least two calendar years prior to the submission of
its application, the organization has operated an aging-out program and, during that
period, has provided services to at least 100 aging foster children or justice involved
youth.
(C) After receiving certification pursuant to this subsection, each qualified organization
other than a Georgia licensed child-placing agency or licensed child-caring institution
shall annually demonstrate to the division's satisfaction that it continues to maintain the
requirements to be a qualified organization, and shall annually submit to the division
a copy of such organization's most recent annual audit.
</ins> (3) The division shall certify any foster child support organization operating as a Georgia
licensed child-placing agency <ins>or licensed child-caring institution</ins> as a qualified
organization within ten days of receipt of a written request or application.
(4) The <del>division shall accept a first round of applications for certification as qualified
organizations by October 1, 2022, and shall certify and notify such applicants of the
division's decision on or before November 30, 2022. Thereafter the</del> division shall
establish a process for rolling applications and certifications <ins>consistent with the
requirements of this Code section.
</ins> (e)(1) Prior to making a contribution to any qualified organization, the taxpayer <ins>or
business enterprise</ins> shall electronically notify the department, in a manner specified by
the commissioner, of the total amount of contribution that such taxpayer <ins>or business
enterprise</ins> intends to make to such qualified organization.
(2) Within 30 days after receiving a request for preapproval of contributions, the
commissioner shall preapprove, deny, or prorate requested amounts on a first come, first
served basis and shall provide notice to such taxpayer or business enterprise and the
qualified organization of such preapproval, denial, or proration. Such notices shall not
require any signed release or notarized approval by the taxpayer <ins>or business enterprise.
</ins> The preapproval of contributions by the commissioner shall be based solely on the
availability of tax credits subject to the aggregate total limit established under paragraph
(1) of subsection (b) of this Code section.
(3) Within 60 days after receiving the preapproval notice issued by the commissioner
pursuant to paragraph (2) of this subsection, the taxpayer <ins>or business enterprise</ins> shall
contribute the preapproved amount to the qualified organization or such preapproved
contribution amount shall expire. The commissioner shall not include such expired
amounts in determining the remaining amount available under the aggregate limit for the
respective calendar year.
(f)(1) Each qualified organization shall issue to each contributor a letter of confirmation
of contribution, which shall include the taxpayer's <ins>or business enterprise's</ins> name, address,
tax identification number, the amount of the qualified contribution, the date of the
qualified contribution, and the total amount of the credit allowed to the taxpayer <ins>or
business enterprise.
(2)(A)</ins> In order for a taxpayer <ins>or business enterprise</ins> to claim the tax credit allowed
under this Code section, all such applicable letters as provided for in paragraph (1) of
this subsection shall be attached to the taxpayer's tax return <ins>or a business enterprise's
tax return provided for in Code Section 33-8-6.
(B) If</ins> <del>When</del> the taxpayer files an electronic return, such confirmation shall only be
required to be electronically attached to the return if the Internal Revenue Service
allows such attachments to be affixed and transmitted to the department. In any such
event, the taxpayer shall maintain such confirmation and such confirmation shall only
be made available to the commissioner upon request.
<ins>(C) With respect to a business enterprise's tax return provided for in Code
Section 33-8-6, the Commissioner of Insurance is authorized to promulgate rules and
regulations regarding the manner in which such letters of confirmation of donations
shall be filed in the case of tax returns filed electronically.
</ins> (3) The commissioner shall allow tax credits for any preapproved contributions made to
a qualified organization at the time the contributions were made if such organization was
a qualified organization at the time of the commissioner's preapproval of the contributions
and the taxpayer <ins>or business enterprise</ins> has otherwise complied with this Code section.
(g)(1) Each qualified organization shall annually submit to the department no later than
<del>May 15</del> <ins>July 15</ins> of each year:
(A) A complete copy of its IRS Form 990 including applicable attachments, or for any
qualified organization that is not required by federal law to file an IRS Form 990, such
organization shall submit to the commissioner equivalent information on a form
prescribed by the commissioner; <ins>provided, however, that, if the organization's IRS
Form 990 is not prepared by the filing deadline, the organization shall provide such
form at the same time it submits such form to the Internal Revenue Service;</ins> and
(B) A report detailing the contributions received during the calendar year pursuant to
this Code section on a date determined by, and on a form provided by, the
commissioner which shall include:
(i) The total number and dollar value of individual contributions and tax credits
approved. Individual contributions shall include contributions made by those filing
income tax returns as a single individual or head of household and those filing joint
returns;
(ii) The total number and dollar value of corporate contributions and tax credits
approved;
(iii) The total number and dollar value of all qualified expenditures made; <del>and
</del> (iv) A list of contributors, including the dollar value of each contribution and the
dollar value of each approved tax credit; <ins>and
(v) An accounting of the funds withheld from qualified contributions demonstrating
that no more than 20 percent of such funds were withheld from qualified
expenditures, as required by subparagraph (j)(1)(A) of this Code section.
</ins> (2) Except for the information published in accordance with subsection (c) of this Code
section, all information or reports relative to this Code section that were provided by
qualified organizations to the department shall be confidential taxpayer information,
governed by Code Sections 48-2-15, 48-7-60, and 48-7-61, whether such information
relates to the contributor or the qualified organization.
(h) By April 1 of each year, each qualified organization shall <del>publicly</del> post on its <ins>public
</ins> website in a prominent place:
<ins>(1) A</ins> <del>a</del> copy of its prior year's annual <del>budget</del> <ins>financials</ins> containing the total amount of
funds received from all sources relative to the amount of qualified contributions it
received and the total amount and a description of how such contributions were utilized.;
<ins>and
(2) A certification, signed by the chief executive officer of the qualified organization and
attested to by an independent accounting firm, which substantially complies with the
following statement:
'I hereby certify that:
(A) The organization has materially complied with the requirements of
subparagraph (j)(1)(A) of O.C.G.A. Section 48-7-29.24 in that no more than 20 percent
of qualified contributions received by [the qualified organization] were retained by,
withheld by, or otherwise paid to the organization; and
</ins>
<ins>(B) The description of how [the qualified organization] utilized the qualified
contributions is true and correct.'
</ins> (i)(1) A taxpayer <ins>or business enterprise</ins> shall not be allowed to designate or direct the
taxpayer's <ins>or business enterprise's</ins> qualified contributions to any particular purpose or for
the direct benefit of any particular individual.
(2) A taxpayer <ins>or business enterprise</ins> that operates, owns, or is a subsidiary of an
association, organization, or other entity that contracts directly with a qualified
organization shall not be eligible for tax credits allowed under this Code section for
contributions made to such qualified organization.
(3) In soliciting contributions, no person shall represent or direct that, in exchange for
making qualified contributions to any qualified organization, a taxpayer <ins>or business
enterprise</ins> shall receive any direct or particular benefit. The status as a qualified
organization shall be revoked for any qualified organization determined to be in violation
of this paragraph and shall not be renewed for at least two years.
(j)(1)(A) Each qualified organization shall use at least 80 percent of the funds received
by it from qualified contributions to make qualified expenditures. Each qualified
organization shall maintain accurate and current records of all expenditures of such
funds and provide such records to the commissioner upon his or her request. <ins>In no
event shall a qualified organization retain for its own use or apply to its overhead or
administrative expenses more than 20 percent of the funds received pursuant to this
Code section.
</ins> (B) No foster child support organization that meets only the definition of such term as
provided in division (a)(4)(C)(ii) of this Code section shall retain more than 2.5 percent
of qualified contributions for itself for any reason and shall only serve to pass all of its
qualified contributions to one or more qualified organizations that are foster child
support organizations as such term is defined in subparagraphs (a)(4)(A), (a)(4)(B), or
division (a)(4)(C)(i) of this Code section.
(2) A qualified organization that fails to comply with any of the requirements under this
Code section shall be given written notice by the department of such failure to comply
by certified mail and shall have 90 days from the receipt of such notice to correct all
deficiencies.
(3) Upon failure to correct all deficiencies within 90 days, the department shall revoke
the foster child support organization's status as a qualified organization and such entity
shall be immediately removed from the department's list of organizations. All
applications for preapproval of tax credits for contributions to such foster child support
organization under this Code section made on or after the date of such removal shall be
rejected.
(4) Each foster child support organization that has had its status revoked and has been
delisted pursuant to this Code section, shall immediately cease all expenditures of funds
received relative to this Code section, and shall transfer all of such funds that are not yet
expended, to a properly operating qualified organization within 30 calendar days of its
removal from the department's list of qualified organizations.
(k)(1) No credit shall be allowed under this Code section to a taxpayer for any amount
of qualified contributions that were utilized as deductions or exemptions from taxable
income.
(2) In no event shall the total amount of the tax credit <ins>used</ins> under this Code section for
a taxable year exceed the taxpayer's income tax liability <ins>or the business enterprise's state
tax liability owed pursuant to Code Section 33-8-4.</ins> Any unused tax credit shall be
allowed the taxpayer <ins>or business enterprise</ins> against the succeeding three years' tax
liability. No such credit shall be allowed the taxpayer <ins>or business enterprise</ins> against prior
years' tax liability.
(l) The chairperson of the House Appropriations Committee and the chairperson of the
Senate Committee on Appropriations shall have the authority to request an audit
concerning this Code section as a whole or of any one or more qualified organizations. The
commissioner, the state auditor, each qualified organization, each aging-out program, and
the director of the division shall cooperate to the full extent necessary to conduct such
audits.
(m) At the discretion of the commissioner or the director of the division, any suspected
misuse of funds contributed or expended pursuant to this Code section shall be forwarded
to the Attorney General for investigation and prosecution.
(n) The commissioner shall promulgate rules and regulations necessary to implement and
administer the provisions of this Code section."
SECTION 2-2.
Said chapter is further amended in Code Section 48-7-60, relating to confidentiality of tax
information, exceptions, authorized inspection by certain officials, furnishing information
to local tax authorities, furnishing information to nonofficials, conditions, and effect of Code
section, by adding a new subsection to read as follows:
<ins>"(d.1) The commissioner shall be authorized in his or her sole discretion to share
information necessary to efficiently administer and enforce the provisions of this chapter
for the purpose of tax credit administration when another state agency has statutory
authority to administer such tax credits. Any confidential information furnished pursuant
to this Code section shall retain its character as confidential and privileged information.
Any person who divulges confidential information obtained pursuant to this Code section
shall be subject to the same penalties as provided under Code Section 48-7-61 for unlawful
divulgence of confidential taxpayer information."
</ins>
PART III
SECTION 3-1.
(a) This Act shall become effective on July 1, 2025, and, except as provided in
subsection (b) of this section, shall be applicable to all taxable years beginning on or after
January 1, 2026.
(b) Section 1-1 of this Act shall be applicable to all taxable years beginning on or after
January 1, 2025.
SECTION 3-2.
All laws and parts of laws in conflict with this Act are repealed.