HB1468: HB1468 Georgia Property Tax Fairness Fund; create

Georgia currently lets high-technology data centers claim sales and use tax exemptions and gives insurance companies certain premium tax credits and abatements. This bill would end those breaks and instead route the money into a new state treasury account called the Georgia Property Tax Fairness Fund. The fund would pay for income tax credits to homeowners whose combined property tax and homeowners insurance payments exceed 5 percent of their income (for lower and middle income filers) and to renters whose rent exceeds 33 percent of their income. It also creates a separate credit, worth up to $2,500, that reduces the property tax bill of homes near a qualifying data center, using that center's sales tax collections. The whole law depends on Georgia voters ratifying a constitutional amendment allowing this kind of fund in the November 2026 election; if they do not, the bill automatically repeals itself on January 1, 2027.

• Creates the Georgia Property Tax Fairness Fund, a state treasury account funded by high-technology data center sales tax collections and insurance premium tax collections.
• Establishes an income tax credit for homeowners and renters in 'qualifying homes' whose housing costs exceed set percentages of their income, refundable if it exceeds their tax bill.
• Creates a separate property tax credit, capped at $2,500 per home, funded by sales tax collected from a nearby high-technology data center.
• Ends new sales and use tax exemption certificates for high-technology data centers after the bill's effective date, though existing certificates remain valid.
• Repeals several insurance premium tax credits and abatements for insurance companies, including breaks tied to operating in less-developed counties.
• Makes the entire Act contingent on voters ratifying a constitutional amendment in November 2026, with automatic repeal if they do not.

Georgia homeowners and renters with housing costs that are high relative to income, high-technology data center operators and their customers who currently claim sales tax exemptions, insurance companies that receive premium tax credits, county and municipal tax collectors, and the state Department of Revenue.

If enacted, lower and middle income Georgians facing steep housing costs could see income tax credits or property tax reductions, while data centers and insurance companies would lose existing tax breaks that currently reduce their state tax bills, shifting where that revenue goes.

• Section 1-1 adds a new Code Section 48-7-43 creating the Georgia Property Tax Fairness Fund and defining 'qualifying home,' 'high-technology data center,' 'tenant,' and other key terms.
• Subsection (d) directs the Department of Revenue to issue income tax credits each year to taxpayers in qualifying homes, based on income thresholds and cost-of-housing percentages.
• Subsection (f) creates a separate ad valorem (property) tax credit up to $2,500 for qualifying homes near a high-technology data center, capped for homes valued over $500,000.
• Section 2-1 repeals and reissues the sales and use tax exemption rule (O.C.G.A. § 48-8-3(68.1)) so no new exemption certificates for data centers are issued after the bill takes effect.
• Sections 2-2 through 2-6 repeal or revise several insurance premium tax credit and abatement provisions in Chapter 8 of Title 33, including O.C.G.A. §§ 33-8-4.1, 33-8-4.2, 33-8-5, and parts of 33-8-8 and 33-8-8.1.
• Section 3-1 makes the entire Act effective January 1, 2027, only if voters ratify a related constitutional amendment in the November 2026 election, and requires automatic repeal if they do not.

1. 2026-03-03House Second Readers (House)
2. 2026-02-26House First Readers (House)
3. 2026-02-25House Hopper (House)

• Jasmine Clark (D, HD-108)Primary sponsor

• property taxes
• data center tax breaks
• insurance premium taxes
• tax credits for renters and homeowners
• constitutional amendment