--- title: HB 360. Revenue and taxation; rehabilitation of historic structures; revise tax credit collection: bills id: 2025-2026/hb360 cite_as: HB 360, 2025-2026 Regular Session (Ga.) canonical_url: https://georgiacommons.org/bills/2025-2026/hb360 md_url: https://georgiacommons.org/bills/2025-2026/hb360.md text_url: https://georgiacommons.org/bills/2025-2026/hb360/text source_url: https://www.legis.ga.gov/legislation/70122 date: 2025-05-14 status: passed corpus_version: bills-2026-08-28 license: Public record of the Georgia General Assembly, via LegiScan; see about.md publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice. up: https://georgiacommons.org/bills/2025-2026.md previous: https://georgiacommons.org/bills/2025-2026/hb359.md next: https://georgiacommons.org/bills/2025-2026/hb361.md index: https://georgiacommons.org/bills/index.md omitted: votes and history omitted_chars: 2123 omitted_url: https://georgiacommons.org/bills/2025-2026/hb360.md?full=1 bill_number: HB 360 session: 2025-2026 Regular Session session_slug: 2025-2026 chamber: House bill_type: bill status_date: 2025-05-14 last_action: Effective Date 2025-07-01 sponsors: - Chuck Efstration - Ron Stephens - Todd Jones - Shaw Blackmon - Bruce Williamson - Scott Holcomb - Clint Dixon text_version: Enrolled has_text: true legiscan_url: https://legiscan.com/GA/bill/HB360/2025 upstream_id: 1964583 summaries_model: claude-sonnet-5 topic_tags: - historic preservation - tax credits - income tax - real estate development --- # HB 360. Revenue and taxation; rehabilitation of historic structures; revise tax credit ## Text 25 HB 360/AP House Bill 360 (AS PASSED HOUSE AND SENATE) By: Representatives Efstration of the 104th, Stephens of the 164th, Jones of the 25th, Blackmon of the 146th, Williamson of the 112th, and others A BILL TO BE ENTITLED AN ACT To amend Article 2 of Chapter 7 of Title 48 of the Official Cod e of Georgia Annotated,1 relating to income tax imposition, rate, computation, exemptions, and credits, so as to revise2 a tax credit for the rehabilitation of historic structures; to authorize a reduced credit to be3 claimed in certain taxable years for certain preapproved rehabi litations provided that a4 certificate of occupancy is obtained; to provide for a territor y applicability; to provide for5 related matters; to repeal conflicting laws; and for other purposes.6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7 SECTION 1.8 Article 2 of Chapter 7 of Title 48 of the Official Code of Geor gia Annotated, relating to9 income tax imposition, rate, computation, exemptions, and credi ts, is amended in Code10 Section 48-7-29.8, relating to tax credits for the rehabilitati on of historic structures, by11 adding a new subsection to read as follows:12 "(b.1) Notwithstanding the provisions of subsections (b) and (c) of this Code section, any13 taxpayer that was preapproved by the commissioner to claim tax credits pursuant to this14 Code section for certified structures other than historic homes for tax year 2027 or 202815 shall be authorized to claim the tax credits allowed pursuant t o this Code section for a16 H. B. 360 - 1 - 25 HB 360/AP certified rehabilitation in the authorized tax year or in tax year 2026, provided that such17 taxpayer obtains a certificate of occupancy for such certified structureon or before July18 1, 2026; provided, however, that any taxpayer that claims tax c redits pursuant to this19 subsection in tax year 2026 shall only be allowed to claim such credits in an amount:20 (A) Not to exceed 90 percent of the amount otherwise allowed pursuant to this Code21 section if such credit was preapproved for tax year 2027; or22 (B) Not to exceed 85 percent of the amount otherwise allowed pursuant to this Code23 section if such credit was preapproved for tax year 2028."24 SECTION 2.25 All laws and parts of laws in conflict with this Act are repealed.26 H. B. 360 - 2 - ## Summaries written by Georgia Commons The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary. House Bill 360 lets Georgia developers who were preapproved for the state's historic rehabilitation tax credit in 2027 or 2028 instead claim a reduced version of that credit in 2026, if their project is finished early. ### Plain-language summary Georgia offers an income tax credit for rehabilitating certified historic structures (O.C.G.A. § 48-7-29.8). Developers apply and get preapproved by the state revenue commissioner to claim the credit in a specific future tax year. This bill adds a new provision letting taxpayers who were preapproved to claim the credit for tax year 2027 or 2028 instead claim it in tax year 2026, ahead of schedule. To qualify, the taxpayer must get a certificate of occupancy for the rehabilitated building by July 1, 2026. In exchange for claiming the credit early, the amount is reduced: taxpayers preapproved for 2027 can claim only 90 percent of the credit they would otherwise get, and those preapproved for 2028 can claim only 85 percent. The bill repeals conflicting laws and does not otherwise change the historic rehabilitation credit program. ### What it does - Adds a new subsection to Georgia's historic rehabilitation tax credit law (O.C.G.A. § 48-7-29.8) allowing early claims of preapproved credits. - Lets taxpayers preapproved for tax year 2027 or 2028 claim their credit instead in tax year 2026 if they finish the project sooner. - Requires the taxpayer to obtain a certificate of occupancy for the rehabilitated structure by July 1, 2026 to qualify for the early claim. - Reduces the credit amount to 90 percent of the originally allowed amount for projects preapproved for 2027 that are claimed early. - Reduces the credit amount to 85 percent of the originally allowed amount for projects preapproved for 2028 that are claimed early. - Repeals any conflicting Georgia laws. ### Who it affects Developers, property owners, and businesses that have been preapproved by the Georgia Department of Revenue to claim tax credits for rehabilitating certified historic structures other than historic homes, particularly those whose approved tax year is 2027 or 2028. ### Why it matters Developers who finish rehabilitating historic buildings ahead of their preapproved schedule can get some tax benefit sooner instead of waiting years, though they receive less than the full credit. This could affect the pace and financing of historic building projects across Georgia. ### Key provisions - Section 1 amends O.C.G.A. § 48-7-29.8 by adding subsection (b.1), creating an exception to the normal timing rules in subsections (b) and (c). - The exception applies only to taxpayers already preapproved for credits on certified structures other than historic homes for tax year 2027 or 2028. - Eligible taxpayers may claim the credit in tax year 2026 instead of their originally approved year, but only if they obtain a certificate of occupancy by July 1, 2026. - Credits claimed early under this provision are capped at 90 percent of the full amount for 2027-preapproved projects and 85 percent for 2028-preapproved projects. - Section 2 repeals conflicting laws, a standard closing provision. ## Status - Status: Passed (2025-05-14) - Last action: Effective Date 2025-07-01 (2025-05-14) - Sponsors: Chuck Efstration, Ron Stephens, Todd Jones, Shaw Blackmon, Bruce Williamson, Scott Holcomb, Clint Dixon - Official page: https://www.legis.ga.gov/legislation/70122 > The history, votes, and amendments (2,123 characters) are at https://georgiacommons.org/bills/2025-2026/hb360.md?full=1