05 LC
14 9029-EC/AP
House
Bill 263 (AS PASSED HOUSE AND SENATE)
By:
Representatives Roberts of the
154th,
Golick of the
34th,
Smith of the
129th,
Freeman of the
140th,
Dollar of the
45th,
and others
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 imposition, rate, computation, and exemptions regarding
income taxes, so as to provide a deduction for the cost of certain classroom
supplies, equipment, and materials paid by certain educators; to provide for
related matters; to provide for effective dates and 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 imposition, rate, computation, and exemptions regarding income taxes, is
amended in Code Section 48-7-27, relating to computation of taxable net income,
by striking the word "and" at the end of paragraph (12) of subsection (a);
replacing the period at the end of paragraph (13) of subsection (a) with ";
and"; and adding a new paragraph at the end of subsection (a), to be designated
paragraph (14), to read as follows:
"(14)
The deduction for school teachers provided and allowed by Section 62(a)(2)(D) of
the Internal Revenue Code of 1986 as enacted on or before January 1, 2005, to
the extent the deduction has not been included in federal adjusted gross income,
as defined under the Internal Revenue Code of 1986, and the expenses have not
been included in itemized nonbusiness
deductions."
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, 2004.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.