08 LC 18
6581
House
Bill 1290
By:
Representatives Houston of the
170th,
Royal of the
171st,
Dempsey of the
13th,
Brooks of the
63rd,
and Greene of the
149th
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 of an individual taxpayer, so as to
provide for an exclusion with respect to overtime compensation of employees paid
on an hourly basis; 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 of an individual taxpayer, is amended
in subsection (a) by replacing "; and" at the end of paragraph (14) with a
semicolon, by replacing the period at the end of paragraph (15) with "; and",
and by adding a new paragraph to read as follows:
"(16)
With respect to a taxpayer who is compensated on an hourly basis, any
compensation received from the taxpayer´s employer for any work performed
which exceeds a 40 hour workweek."
SECTION
2.
This
Act shall become effective January 1, 2009, 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laws and parts of laws in conflict with this Act are repealed.