06 LC 18
4899
House
Bill 1051
By:
Representatives Buckner of the
76th,
Reece of the
11th,
Sims of the
151st,
and Dickson of the
6th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia
Annotated, relating to the imposition, rate, and computation of income tax, so
as to provide for income tax credits for students majoring in the education of
special needs students and teachers who teach special needs students; to provide
for conditions and limitations; to provide for powers, duties, and authority of
the state revenue commissioner with respect to the foregoing; to provide an
effective date; to provide for applicability; to repeal conflicting laws; and
for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating
to the imposition, rate, and computation of income tax, is amended by adding a
new Code section immediately following Code Section 48-7-29.9, to be designated
Code Section 48-7-29.10, to read as follows:
"48-7-29.10.
(a)
As used in this Code section, the term:
(1)
'Student' means a taxpayer who is enrolled in a college or university in this
state who is majoring in the education of special needs students and meets the
requirements of paragraph (1) or (2) of subsection (b) of this Code
section.
(2)
'Teacher' means a person employed as a full-time teacher in a public school
system by a county or independent board of education in this state who teaches
special needs students.
(b)(1)
A student taking 12 or more credit hours in the special needs education major
shall be allowed a credit against the tax imposed by Code Section 48-7-20 in an
amount not to exceed $500.00;
(2)
A student taking less than 12 but more than four credit hours in the special
needs education major shall be allowed a credit against the tax imposed by Code
Section 48-7-20 in an amount not to exceed $250.00; or
(3)
A teacher shall be allowed a credit against the tax imposed by Code Section
48-7-20 in an amount not to exceed $500.00.
(c)
In no event shall the total amount of the tax credit under this Code section for
a taxable year exceed the
taxpayeŕs
income tax liability. Any unused tax credit shall be allowed the taxpayer
against succeeding
yearś
tax liability. No such credit shall be allowed the taxpayer against prior
yearś
tax liability.
(d)
The commissioner shall be authorized to promulgate any rules and regulations
necessary to implement and administer the provisions of this Code
section."
SECTION
2.
This
Act shall become effective on January 1, 2007, and shall be applicable to all
taxable years beginning on or after that date.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.