05 LC 18
4188S
The
House Committee on Ways and Means offers the following substitute to HB
167:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-7-27 of the Official Code of Georgia Annotated, relating
to computation of Georgia taxable net income, so as to change certain provisions
regarding the exclusion applicable to military income; 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.
Code
Section 48-7-27 of the Official Code of Georgia Annotated, relating to
computation of Georgia taxable net income, is amended by striking paragraph (12)
of subsection (a) and inserting in its place a new paragraph (12) to read as
follows:
"(12)
Military
All
income received by a member of the national guard or any reserve component of
the armed services of the United States
stationed
in a combat zone pursuant to military
orders
who serves on
active duty for at least 90 consecutive
days. The exclusion provided under this
paragraph:
(A)
Shall be claimed and allowed in the year in which the ninetieth day
occurs;
(A)(B)
Shall apply with respect to each taxable
year, or
portion thereof, covered by such military
orders
in which such
member serves for such qualifying period of
time; and
(B)(C)
Shall apply only with respect to such member of the national guard or any
reserve component of the armed forces and
only
with respect to
all
military income
and all other
income earned during the
period
covered by such military orders
taxable year
by such member;
and"
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, 2002.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.