SB 59: Bona Fide Conservation Use Property; a limitation on leased property; remove

Georgia created a tax credit program to help timber producers who lost trees in Hurricane Helene, but the program capped total credits at $200 million and required growers to apply for preapproval from the state revenue commissioner before claiming the credit. This bill raises that aggregate cap to $250 million and changes how the credit is awarded going forward. Under the bill, preapproval is still required for applications submitted through the end of 2025, but starting January 1, 2026, taxpayers can claim the credit without getting preapproved first, as long as the state has not already given out the full $250 million. The commissioner must start taking these later applications by July 1, 2026 and respond within 45 days. Growers still must finish replanting or restoring their timberland before claiming the credit, and all credits must be claimed by December 31, 2030. The changes apply to tax years starting on or after January 1, 2026 and take effect once the Governor signs the bill or it becomes law without a signature.

• Raises the total statewide cap on Hurricane Helene timber casualty loss tax credits from $200 million to $250 million.
• Removes the preapproval requirement for tax credit applications submitted on or after January 1, 2026, letting growers claim credits directly up to the new cap.
• Requires the commissioner to begin accepting these post-2025 applications by July 1, 2026 and to notify each applicant within 45 days.
• Keeps the requirement that timber must be restored or replanted to specific standards before a taxpayer can actually claim the credit.
• Sets a final deadline of December 31, 2030 for claiming any of these credits.

Timber producers and landowners in Georgia whose eligible timberland was damaged by Hurricane Helene, especially those applying for state tax credits after 2025; also the Georgia Department of Revenue, which administers the preapproval and application process.

More timber growers could receive state tax relief for storm losses, and the higher $250 million cap means fewer applicants are likely to be prorated down due to limited funds. Growers applying after 2025 also skip the extra preapproval step, potentially speeding up when they can claim the credit.

• Section 1 amends O.C.G.A. § 48-7-40.37(d)(4) and (e) to raise the aggregate credit cap from $200 million to $250 million.
• Section 1 revises subsection (c)(2) so preapproval is required only for applications submitted by December 31, 2025.
• New subsection (f)(1)(A)(ii) allows taxpayers to claim credits without a preapproval certificate starting January 1, 2026, in the order applications are received, up to the $250 million cap.
• The commissioner must begin accepting these applications no later than July 1, 2026 and respond to each taxpayer within 45 days of submission.
• Taxpayers must still complete restoration or replanting of damaged timberland, as described in subsection (f)(1)(B), before claiming the credit.
• All credits under this program must be claimed on or before December 31, 2030.
• Section 2 makes the Act effective upon the Governor's approval and applicable to taxable years beginning on or after January 1, 2026.

1. 2026-05-12Veto V9
2. 2026-05-12Senate Date Vetoed by Governor (Senado)
3. 2026-04-10Senate Sent to Governor (Senado)
4. 2026-03-12Senate Agreed House Amend or Sub (Senado)
5. 2026-02-26House Passed/Adopted By Substitute (Cámara de Representantes)
6. 2026-02-26House Third Readers (Cámara de Representantes)
7. 2026-02-18House Committee Favorably Reported By Substitute (Cámara de Representantes)
8. 2025-04-04House Withdrawn, Recommitted (Cámara de Representantes)

• Sam Watson (R, SD-011)Patrocinador principal
• Billy Hickman (R, SD-004)
• Russ Goodman (R, SD-008)
• Lee Anderson (R, SD-024)
• Carden Summers (R, SD-013)
• Drew Echols (R, SD-049)
• Angie O'Steen (R, HD-169)

1. AprobadaVotación: Senado19 de febrero de 2025

   31 a favor, 21 en contra (1 sin votar, 3 ausentes)

   Motion To Engross: Sb 45, Sb 59, Sb 89, And Sr 56: Senate Vote #63

2. AprobadaVotación: Senado19 de febrero de 2025

   50 a favor, 1 en contra (0 sin votar, 5 ausentes)

   Passage: Senate Vote #66

3. AprobadaVotación: Cámara de Representantes26 de febrero de 2026

   154 a favor, 3 en contra (12 sin votar, 8 ausentes)

   Passage: House Vote #575

4. AprobadaVotación: Senado12 de marzo de 2026

   49 a favor, 0 en contra (3 sin votar, 3 ausentes)

   Agree To House Substitute: Senate Vote #715

• timber tax credits
• Hurricane Helene relief
• agriculture tax policy
• Georgia Department of Revenue