SB448: SB448 State Income Taxes; tax credits for low income buildings; certain senior living facilities to acquire and maintain sufficient emergency and standby power systems to provide for the safety and welfare of residents at such facility; require

26 LC 52 0875 Senate Bill 448 By: Senators Mallow of the 2nd, Howard of the 35th, Jackson of the 41st, Kemp of the 38th and Harbison of the 15th 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 imposition, rate, computation, exemptions, and credits for state income taxes, so2 as to require certain senior living facilities to acquire and maintain sufficient emergency and3 standby power systems to provide for the safety and welfare of residents at such facility; to4 provide for definitions; to provide for inspection and enforcem ent; to provide for related5 matters; to provide for an effective date; 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 imposition, rate, computation, exemptions, and credits for state income taxes, is amended in10 Code Section 48-7-29.6, relating to tax credits for qualified low-income buildings, by adding11 a new subsection to read as follows:12 "(d)(1) As used in this subsection, the term:13 (A) 'Emergency and standby power system' means:14 (i) An on-site operational backup generator and an on-site supply of fuel sufficient15 to sustain such generator; or16 (ii) An alternate power source approved by the department by rule or regulation.17 S. B. 448 - 1 - 26 LC 52 0875 (B) 'Senior living facility' means any facility that is design ed for occupancy by18 individuals 55 years of age or older who are fully ambulatory o r who require no19 medical or personal assistance or supervision and:20 (i) Is two or more stories in height;21 (ii) Is a multiple dwelling structure;22 (iii) Is equipped to offer accessory uses and to provide support services; and23 (iv) Is fitted to provide accommodations for people who requir e only limited or24 intermittent medical or personal assistance.25 (2) On and after January 1, 2027, the department shall require each qualified Georgia26 project that includes a senior living facility and is allowed the Georgia housing tax credit27 provided under this Code section to acquire and maintain an eme rgency and standby28 power system sufficient to ensure continuity of operation for n ot less than 96 hours,29 including, but not limited to, providing power to safe egress, emergency lighting, and30 temperature control for the protection of resident safety and welfare.31 (3) The state revenue commissioner, Safety Fire Commissioner, and commissioner of32 community affairs shall coordinate inspection and enforcement."33 SECTION 2.34 This Act shall become effective upon its approval by the Governor or upon its becoming law35 without such approval.36 SECTION 3.37 All laws and parts of laws in conflict with this Act are repealed.38 S. B. 448 - 2 -