Georgia CommonsHouse · Passed · 2025-2026 Regular Session
HB 360: Revenue and taxation; rehabilitation of historic structures; revise tax credit
Last action July 1, 2025 · Effective Date
House Bill 360 lets Georgia developers who were preapproved for the state's historic rehabilitation tax credit in 2027 or 2028 claim a reduced version of that credit early, in 2026, if they finish the project on time.
The summaries below were written by an AI model (claude-sonnet-5) from the text of the bill and are not part of it. Quote the text, not the summary. The stored text is the Enrolled version, the latest the General Assembly's website lists.
In plain language
Georgia offers an income tax credit under O.C.G.A. § 48-7-29.8 for rehabilitating certified historic structures, and developers must apply and get preapproved by the state revenue commissioner for a specific tax year before claiming it. This bill adds a new rule for taxpayers who were already preapproved to claim the credit in tax year 2027 or 2028 for buildings other than historic homes. Under the bill, those taxpayers can choose to claim the credit early, in tax year 2026, instead of waiting for their originally approved year, as long as they obtain a certificate of occupancy for the rehabilitated building by July 1, 2026. If they take the credit early, the amount is reduced: they can claim up to 90 percent of the normal credit if their original approval was for 2027, or up to 85 percent if it was for 2028. The change applies only to preapproved projects meeting these conditions and repeals any conflicting laws.
What the bill does
- Adds a new subsection to Georgia's historic rehabilitation tax credit law (O.C.G.A. § 48-7-29.8) allowing early claims for certain preapproved projects.
- Lets taxpayers preapproved for the credit in tax year 2027 or 2028 instead claim it in tax year 2026, if the project is finished on time.
- Requires the taxpayer to obtain a certificate of occupancy for the rehabilitated structure by July 1, 2026 to qualify for the early claim.
- Caps the early 2026 credit at 90 percent of the normal amount for projects originally approved for 2027, and 85 percent for those approved for 2028.
- Limits the new option to certified structures other than historic homes, meaning income-producing or commercial historic buildings rather than personal residences.
Who it affects
Developers and property owners who rehabilitate certified historic structures (other than historic homes) and who already received state preapproval to claim the tax credit for tax year 2027 or 2028. The Georgia Department of Revenue, which administers the credit, is also affected.
Why it matters
Developers with preapproved historic rehabilitation projects could get access to tax credit money a year or two sooner than planned, which may help with financing and construction timelines, but only by accepting a smaller credit and meeting a hard July 2026 completion deadline.
Key provisions
- Section 1 adds subsection (b.1) to O.C.G.A. § 48-7-29.8, creating an exception to the normal timing rules for claiming the historic rehabilitation tax credit.
- The exception applies only to taxpayers preapproved by the commissioner for tax year 2027 or 2028, for certified structures other than historic homes.
- Taxpayers may claim the credit in tax year 2026 instead of their preapproved year if they get a certificate of occupancy by July 1, 2026.
- Credits claimed early are capped at 90 percent of the normal amount for 2027-preapproved projects and 85 percent for 2028-preapproved projects.
- Section 2 repeals any conflicting laws.
From the bill
“any taxpayer that claims tax credits pursuant to this subsection in tax year 2026 shall only be allowed to claim such credits in an amount: (A) Not to exceed 90 percent of the amount otherwise allowed pursuant to this Code section if such credit was preapproved for tax year 2027; or (B) Not to exceed 85 percent of the amount otherwise allowed pursuant to this Code section if such credit was preapproved for tax year 2028.”
Status timeline
- Effective Date
- Act 262
- House Date Signed by Governor (House)
- House Sent to Governor (House)
- House Agreed Senate Amend or Sub (House)
- Senate Reconsidered Passed/Adopted As Amended (Senate)
- Senate Taken from Table (Senate)
- Senate Tabled (Senate)
Show full history (23 actions)
- Senate Reconsidered (Senate)
- Senate Notice to Reconsider (Senate)
- Senate Lost (Senate)
- Senate Taken from Table (Senate)
- Senate Tabled (Senate)
- Senate Third Read (Senate)
- Senate Read Second Time (Senate)
- Senate Committee Favorably Reported (Senate)
- Senate Read and Referred (Senate)
- House Passed/Adopted By Substitute (House)
- House Third Readers (House)
- House Committee Favorably Reported By Substitute (House)
- House Second Readers (House)
- House First Readers (House)
- House Hopper (House)
Sponsors
- Chuck Efstration (R, HD-104)
- Ron Stephens (R, HD-164)
- Todd Jones (R, HD-25)
- Shaw Blackmon (R, HD-146)
- Bruce Williamson (R, HD-112)
- Scott Holcomb (D, HD-101)
- Clint Dixon (R, SD-45)
Votes
- House voteMarch 6, 2025
168 yea, 3 nay (6 not voting, 3 excused)
- Senate voteMarch 28, 2025
34 yea, 17 nay (0 not voting, 5 excused)
- Senate voteMarch 28, 2025
26 yea, 24 nay (1 not voting, 5 excused)
- Senate voteMarch 31, 2025
51 yea, 4 nay (1 not voting, 0 excused)
- Senate voteApril 4, 2025
49 yea, 6 nay (0 not voting, 1 excused)
- House voteApril 4, 2025
158 yea, 5 nay (7 not voting, 10 excused)
Topics
- historic preservation
- tax credits
- property taxes
- economic development