SB 530: Georgia Property Tax Fairness Fund; create

This bill sets up the Georgia Property Tax Fairness Fund, filled with money currently collected from the state's insurance premium tax and from sales and use taxes tied to high-technology data centers. The fund would pay for income tax credits for people who qualify: homeowners with modest incomes whose property taxes and homeowners insurance together eat up more than 5 percent of their income, and renters whose rent exceeds 33 percent of their income. Credits would be refundable, meaning people could get money back even if it exceeds what they owe in income tax. The bill also ends new sales tax exemption certificates for high-technology data centers going forward, though existing certificates would still apply under the old rules. It repeals several insurance premium tax credits and abatements previously available to insurance companies. Because the fund relies on authority the Georgia Constitution does not yet grant, the whole Act only takes effect January 1, 2027, and only if voters approve a constitutional amendment at the November 2026 statewide election; otherwise it is automatically repealed.

• Creates the Georgia Property Tax Fairness Fund in the state treasury, funded by insurance premium tax collections and high-technology data center sales and use tax collections.
• Grants refundable income tax credits to lower and middle income homeowners whose property taxes and homeowners insurance exceed 5 percent of their income, and to renters whose rent exceeds 33 percent of their income.
• Requires county tax collectors (fiscal authorities) to apply data center sales tax revenue collected in their jurisdiction to reduce property tax bills on qualifying homes in that area, up to $2,500 per home.
• Ends the issuance of new sales and use tax exemption certificates for high-technology data centers after the bill's effective date, while honoring certificates already issued.
• Repeals several existing insurance premium tax credits and abatements for insurance companies, including a credit for companies in less-developed counties and a reduced tax rate tied to that credit.
• Makes the entire Act contingent on voters ratifying a constitutional amendment in November 2026, with automatic repeal of the whole law if that amendment fails.

Lower and middle income Georgia homeowners and renters who could receive tax credits, insurance companies that currently benefit from certain premium tax credits and abatements, high-technology data center operators and their customers who use sales tax exemptions, and county and municipal tax collectors who would administer the new property tax credit.

If enacted, eligible homeowners and renters could see real reductions in their income tax bills or property tax bills, funded by revenue currently collected from insurance premiums and data center sales taxes rather than new taxes. Insurance companies and data centers would lose some existing tax breaks. None of this happens unless voters separately approve a constitutional amendment in 2026.

• Section 1-1 adds a new Code section (O.C.G.A. § 48-7-43) defining 'qualifying home' as one where a lower-income owner's combined property tax and insurance costs exceed 5 percent of income, or a tenant's rent exceeds 33 percent of income.
• Section 1-1 requires the Department of Revenue to issue refundable income tax credits each year to taxpayers in qualifying homes, calculated so all qualifying taxpayers get an identical reduction.
• Section 1-1 also requires county and municipal tax collectors to use data center sales tax revenue collected locally to cut property tax bills on qualifying homes, capped at $2,500 per home and limited to homes worth up to $500,000.
• Section 2-1 repeals the ability to issue new sales tax exemption certificates for high-technology data centers after the bill takes effect, while preserving certificates already issued.
• Sections 2-2 through 2-6 repeal several insurance premium tax credits and abatements, including credits for insurers in less-developed counties and a related reduced tax rate for life insurance companies.
• Section 3-1 makes the entire Act effective January 1, 2027 only if Georgia voters approve a constitutional amendment authorizing the fund at the November 2026 election, with automatic repeal if the amendment fails.

1. 2026-02-19Senate Read and Referred (Senado)
2. 2026-02-18Senate Hopper (Senado)

• Nabilah Islam Parkes (D, SD-007)Patrocinador principal
• Harold Jones (D, SD-022)
• Tonya Anderson (D, SD-043)
• Gail Davenport (D, SD-017)
• RaShaun Kemp (D, SD-038)
• Kenya Wicks (D, SD-034)
• Nan Orrock (D, SD-036)
• Jaha Howard (D, SD-035)
• Sheikh Rahman (D, SD-005)
• Nikki Merritt (D, SD-009)
• Kim Jackson (D, SD-041)

• property taxes
• data centers
• insurance taxes
• tax credits for homeowners and renters
• constitutional amendment