us-ga/statute/session-laws/2024/hb1021/document-1

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us-ga/statute/session-laws/2024/hb1021/document-1 · Axiom

1 rule

24 LC 50 0661/AP House Bill 1021 (AS PASSED HOUSE AND SENATE) By: Representatives Daniel of the 117th, Burns of the 159th, Blackmon of the 146th, Williamson of the 112th, Silcox of the 53rd, and others A BILL TO BE ENTITLED AN ACT To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, 1 relating to the imposition, rate, computation, exemptions, and credits relative to income 2 taxes, so as to increase the amount of the dependent exemption; to provide for related 3 matters; to provide for an effective date and applicability; to repeal conflicting laws; and for 4 other purposes. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 6 SECTION 1. 7 Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the 8 imposition, rate, computation, exemptions, and credits relative to income taxes, is amended 9 by revising subsection (b) of Code Section 48-7-26, relating to personal exemptions, as 10 follows: 11 "(b) Each taxpayer shall be allowed as a deduction in computing his or her Georgia taxable 12 income a personal exemption in the amount of $3,000.00 $4,000.00 for each dependent of 13 such taxpayer." 14 H. B. 1021 - 1 -

24 LC 50 0661/AP SECTION 2. 15 This Act shall become effective on July 1, 2024, and shall be applicable to all taxable years 16 beginning on or after January 1, 2024. 17 SECTION 3. 18 All laws and parts of laws in conflict with this Act are repealed. 19 H. B. 1021 - 2 -

in view

Whole section

Encodings · 1

Encoded from this provision

us-ga/statute/48/48-7-26

dependent_exemption_amountGA session-laws § 2024 (hb1021)(document-1) · parameter

O.C.G.A. § 48-7-26(b)

name: dependent_exemption_amount
kind: parameter
dtype: Money
unit: USD
source: O.C.G.A. § 48-7-26(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-ga/statute/48/48-7-26
          excerpt: an exemption of $3,000.00 for each dependent
      - path: versions[0].effective_from
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/48/48-7-26
          excerpt: Commencing with the taxable year beginning January 1, 2003
      - path: versions[0].effective_to
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
          excerpt: >-
            This Act shall become effective on July 1, 2024, and shall be
            applicable to all taxable years beginning on or after January 1,
            2024
      - path: versions[1].formula
        kind: amount
        source:
          corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
          excerpt: $4,000.00 for each dependent
      - path: versions[1].effective_from
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
          excerpt: >-
            This Act shall become effective on July 1, 2024, and shall be
            applicable to all taxable years beginning on or after January 1,
            2024
      - path: versions[1].effective_to
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
          excerpt: >-
            This Act shall become effective upon its approval by the Governor or
            upon its becoming law without such approval and shall be applicable
            to all taxable years beginning on or after January 1, 2026
      - path: versions[2].formula
        kind: amount
        source:
          corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
          excerpt: $5,000.00 for each dependent
      - path: versions[2].effective_from
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
          excerpt: >-
            This Act shall become effective upon its approval by the Governor or
            upon its becoming law without such approval and shall be applicable
            to all taxable years beginning on or after January 1, 2026
      - path: versions[2].effective_to
        kind: effective_period
        source:
          corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
          excerpt: >-
            such deduction shall be increased by $125.00 annually beginning on
            January 1, 2027, until such deduction reaches $6,000.00, provided
            that such increases in such deduction shall be subject to the same
            delays as those applied to standard deductions
versions:
  - effective_from: '2003-01-01'
    effective_to: '2023-12-31'
    formula: '3000'
  - effective_from: '2024-01-01'
    effective_to: '2025-12-31'
    formula: '4000'
  - effective_from: '2026-01-01'
    effective_to: '2026-12-31'
    formula: '5000'

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Rules

dependent_exemption_amount

Parameter

source: O.C.G.A. § 48-7-26(b)

- name: dependent_exemption_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: O.C.G.A. § 48-7-26(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ga/statute/48/48-7-26
            excerpt: an exemption of $3,000.00 for each dependent
        - path: versions[0].effective_from
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/48/48-7-26
            excerpt: Commencing with the taxable year beginning January 1, 2003
        - path: versions[0].effective_to
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
            excerpt: >-
              This Act shall become effective on July 1, 2024, and shall be applicable to all
              taxable years beginning on or after January 1, 2024
        - path: versions[1].formula
          kind: amount
          source:
            corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
            excerpt: $4,000.00 for each dependent
        - path: versions[1].effective_from
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/session-laws/2024/hb1021/document-1
            excerpt: >-
              This Act shall become effective on July 1, 2024, and shall be applicable to all
              taxable years beginning on or after January 1, 2024
        - path: versions[1].effective_to
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
            excerpt: >-
              This Act shall become effective upon its approval by the Governor or upon its becoming
              law without such approval and shall be applicable to all taxable years beginning on or
              after January 1, 2026
        - path: versions[2].formula
          kind: amount
          source:
            corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
            excerpt: $5,000.00 for each dependent
        - path: versions[2].effective_from
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
            excerpt: >-
              This Act shall become effective upon its approval by the Governor or upon its becoming
              law without such approval and shall be applicable to all taxable years beginning on or
              after January 1, 2026
        - path: versions[2].effective_to
          kind: effective_period
          source:
            corpus_citation_path: us-ga/statute/session-laws/2026/hb463/document-1
            excerpt: >-
              such deduction shall be increased by $125.00 annually beginning on January 1, 2027,
              until such deduction reaches $6,000.00, provided that such increases in such deduction
              shall be subject to the same delays as those applied to standard deductions
  versions:
    - effective_from: '2003-01-01'
      effective_to: '2023-12-31'
      formula: '3000'
    - effective_from: '2024-01-01'
      effective_to: '2025-12-31'
      formula: '4000'
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: '5000'

▸citations (1)

References

This rule cites 1 other rule.

GA session-laws § 48-7-26inferredGA › Statutes › Title session-laws › § 48-7-26