HB 376: Income tax; rehabilitation of certified structures; increase amount of tax credits

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Discussed in meetings (15)

The House and Senate meetings that took this bill up, from their machine transcripts. Each account was written by Georgia Commons with AI and is not part of the record; the video is what was said.

1. House Ways & Means Committee, February 18, 2026

   From 0:27:06 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: The sponsor presented a substitute expanding tax credits for rehabilitation of historic properties. The sponsor said all available credits were already spoken for, effectively preventing further use of the program. The substitute would raise the credit cap from $30 million to $60 million and provide an additional incentive for rural counties, according to the sponsor. No questions were asked. The committee voted to advance the substitute by voice vote, with no count announced.

2. House Rules Committee, February 23, 2026

   From 1:30:08 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: The committee approved a motion to send HB 376 back to Ways and Means without opposition. There was no discussion of the bill's substance.

3. House Ways & Means Committee, February 24, 2026

   From 0:25:17 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: The sponsor said the measure had previously passed the committee unanimously but returned from Rules for a small revision. The sponsor described changing a figure on line 45 from 10 to five, citing inflation and changes in development and historic projects since the original $10 million figure was set more than a decade earlier. The sponsor said the rest of the measure remained unchanged, but did not explain the revised provision further. With no questions, the committee approved the do-pass motion by voice vote.

4. House Rules Committee, March 2, 2026

   From 1:24:13 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: A committee member requested consideration of HB 376 but did not explain its provisions. No questions or decision followed.

5. House Rules Committee, March 4, 2026

   From 1:25:38 · Watch on the General Assembly's Vimeo channel · Confirmed by the 2026 House Journal, p. 1881

   Summary by Georgia Commons: The sponsor said HB 376 had returned from Ways and Means with an increase in the historic rehabilitation tax credit's per-project amount from 10 to 15 to account for inflation. The speaker did not state the units for those amounts. No questions or decision followed.

6. House floor session, March 4, 2026 (legislative day 27, PM, part 1)

   From 2:43:43 · Watch on the General Assembly's Vimeo channel · Confirmed by the 2026 House Journal, p. 1912

   Summary by Georgia Commons: The sponsor said the bill would raise the historic rehabilitation tax credit cap from $30 million to $60 million because existing credits were already committed, while the program was not scheduled to expire until 2029. The sponsor also described an increased per-project cap and an added rural development incentive. Asked whether only developers could qualify, the sponsor said anyone undertaking eligible rehabilitation could participate. One member credited the program with downtown Columbus redevelopment. Another said it returns about $4 for each state dollar invested, and the sponsor agreed. A further member asked about rehabilitation thresholds, rural versus urban effects and safeguards for statewide distribution. The sponsor pointed to the per-project increase and rural incentive, and said credits would follow eligible projects and need. During voting, another member said the credit had helped that member own downtown Macon property. The House adopted the committee substitute and passed the bill 161-9. One member requested to be excused.

7. House Rules Committee, March 4, 2026

   From 0:36:26 · Watch on the General Assembly's Vimeo channel · Confirmed by the 2026 House Journal, p. 1881

   Summary by Georgia Commons: The committee added HB 376 to the day's supplemental calendar under structured rules without stated opposition. No provisions were discussed.

8. Senate Economic Development and Tourism Committee, March 10, 2026

   From 0:31:41 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: The sponsor said the historic rehabilitation credit program had reached its cap, preventing new awards, and proposed raising it from $30 million to $60 million. The sponsor described retaining 25% credits for earlier awards, with new rates of 30% for rural structures and 20% in more populated areas, and claimed $3 to $6 in economic activity per dollar invested. Georgia Trust for Historic Preservation witnesses supported the expansion, saying many projects were not viable without credits. Members questioned geographic distribution, large projects consuming available credits, demand and eligibility. Presenters said awards were first come, first served, estimated demand at $85 million, and described a $15 million project limit tied to jobs or payroll requirements. A witness said eligible structures qualify for or appear on the National Register of Historic Places. Answers differed on whether the cap was annual or covered the whole program. After initial approval, the committee reconsidered at the Department of Revenue's request. The department sought clearer approval language and consistent dates. The committee adopted an amendment replacing “issued” with “approved” in two places and changing the applicable tax year from 2027 to 2026, then approved the bill as amended. No vote count was stated.

9. Senate Rules Committee, March 16, 2026

   From 0:17:09 · Watch on the General Assembly's Vimeo channel

   Summary by Georgia Commons: The sponsor said HB 376 would add historic rehabilitation tax credits so the program could continue until its 2029 expiration. The sponsor said available credits had already run out and credited the program with helping revitalize downtowns. Asked about different treatment of rural and urban projects, the sponsor confirmed that projects in counties with fewer than 50,000 residents would receive greater incentives. Another member asked whether the proposal related to credits moved forward the previous year, but the brief exchange did not clearly establish that connection. The president pro tempore supported dividing credits so a large project would not consume the amount available to the rest of the state, and the sponsor agreed. The committee later unanimously included the bill on the next day's floor calendar.

10. Senate floor session, March 18, 2026 (legislative day 33)

    From 1:50:12 · Watch on the General Assembly's Vimeo channel · Confirmed by the bill's status history (Senate Engrossed)

    Summary by Georgia Commons: The Senate voted 30-20 to protect HB 376 and HB 1159 from floor amendments. A minority caucus speaker objected that HB 376 came from Economic Development and Tourism rather than Finance or Ethics. The majority leader cited its tax-code subject. Later, the sponsor presented a substitute expanding nonresidential historic rehabilitation credits. The sponsor said available credits were exhausted and proposed doubling the annual cap from $30 million to $60 million through the existing 2029 sunset. The sponsor described a $25,000 minimum investment, a $15 million maximum project credit, 30% credits in counties with no more than 50,000 residents, and 20% elsewhere, while preserving previously approved 25% credits. The sponsor cited 295 projects and $803 million in private investment during 2020-2025, plus an audit finding $3.08 in economic growth per incentive dollar. One senator distinguished economic activity from state revenue, citing a 2022 report showing $32.3 million spent and $6.2 million returned. Other senators credited the program with downtown renewal, preservation, and jobs. The Senate adopted the substitute and passed the bill 46-2.

11. House floor session, March 23, 2026 (legislative day 36, AM)

    From 2:28:49 · Watch on the General Assembly's Vimeo channel

    Summary by Georgia Commons: The sponsor moved to agree to the Senate substitute to HB 376, describing it as a historic rehabilitation tax credit measure. The sponsor said it previously passed the House 161 to 9 and the Senate 46 to 2. According to the sponsor, the Department of Revenue requested two administrative changes that did not substantially change the underlying bill. A member asked about increasing the credit cap from $30 million to $60 million. The sponsor said that increase was already in the underlying bill, not a Senate change, and that the existing cap was fully committed, effectively ending availability of the program. The sponsor said the higher cap would provide more resources for projects. The House agreed to the Senate substitute, 152 to 10.

• Read aloud: House floor session, February 18, 2026 (legislative day 20), 0:41:00
• Read aloud: Senate floor session, March 6, 2026 (legislative day 28, part 1), 0:37:59
• Read aloud: Senate floor session, March 12, 2026 (legislative day 31), 0:25:22
• Read aloud: Senate floor session, March 16, 2026 (legislative day 32), 0:28:46

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