The Georgia General Assembly completed the 2024 Legislative Session in the early morning hours of Friday, March 29, passing several pieces of key legislation that bolster our state’s economy and further solidify Georgia’s designation as the ‘No.1 place for business.’
The Georgia Chamber of Commerce and its Government Affairs Council, an advocacy organization comprised of over 500 government affairs professionals from every industry in the state, tracked nearly 800 bills related to business, innovation, education, taxation and economic development over the course of the 2023-2024 biennium session. Georgia’s statewide business community celebrates the passage of several critical policies that will contribute to the continued success of the Peach State’s pro-business environment.
The following bills passed the Georgia General Assembly and are available for consideration by Gov. Brian Kemp:
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House Bill 880 – Military Spousal Licensing
HB 880 seeks to strengthen our military families and communities by allowing the spouses of members of the armed forces to use an existing license in good standing from another state to obtain employment in Georgia. -
House Bill 808 – Ad Valorem Tax Exemption Increase
HB 808 raises the sales tax exemption threshold of tangible personal property from $7,500 to $20,000. -
House Bill 1015 – Personal Income Tax Rate Reduction
HB 1015 accelerates the reduction of the state’s personal income tax by ten basis points to 5.39%, effective for the 2024 tax year. -
House Bill 1019 – Homestead Tax Exemption Increase
HB 1019 increases the statewide homestead exemption from $2,000 to $4,000, the first increase since 1978. -
House Bill 1021 – Child Tax Credit Exemption Increase
HB 1021 increases the child tax deduction from $3,000 to $4,000 per child. -
House Bill 1023 – Corporate Income Tax Parity
HB 1023 aims to reduce the state’s flat corporate income tax rate from…
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