hb1048_LC_18_4946_a_2.html
06 LC 18 4946
House Bill 1048
By: Representatives Buckner of the 76th, Orrock of the 58th, Jennings of the 82nd, Drenner of the 86th, Gardner of the 57th, 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, relating to the imposition, rate, and computation of income tax, so as to provide for an income tax credit with respect to reel mowers; 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 'reel mower' means a nonmotorized lawn mower.
(b) A taxpayer shall be allowed a credit against the tax imposed by this chapter in an amount not to exceed the actual amount expended or $100.00, whichever is less, for the purchase of a new reel mower.
(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 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, 2007.

SECTION 3.
All laws and parts of laws in conflict with this Act are repealed.