HB1499: HB1499 Ad valorem tax; qualified caregiving expenses; increase amount of credit

26 LC 44 3503 House Bill 1499 By: Representatives Santos of the 117th, Frye of the 122nd, Beckles of the 96th, and Holly of the 116th A BILL TO BE ENTITLED AN ACT To amend Code Section 48-7-29.2 of the Official Code of Georgia Annotated, relating to tax1 credits for qualified caregiving expenses, so as to increase th e amount of the tax credit; to2 provide for related matters; to provide for an effective date a nd applicability; to repeal3 conflicting laws; and for other purposes.4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5 SECTION 1.6 Code Section 48-7-29.2 of the Official Code of Georgia Annotated, relating to tax credits for7 qualified caregiving expenses, is amended by revising subsection (c) as follows:8 "(c) In no event shall the amount of the tax credit exceed $150 .00 $1,500.00 o r t h e9 taxpayer's income tax liability, whichever is less. Any unused tax credit shall not be10 allowed to be carried forward to apply to the taxpayer's succeeding years' tax liability. No11 such tax credit shall be allowed the taxpayer against prior years' tax liability."12 H. B. 1499 - 1 - 26 LC 44 3503 SECTION 2.13 This Act shall become effective upon its approval by the Governor or upon its becoming law14 without such approval and shall be applicable to all taxable ye ars beginning on or after15 January 1, 2026.16 SECTION 3.17 All laws and parts of laws in conflict with this Act are repealed.18 H. B. 1499 - 2 -