08 LC 18
6900
House
Bill 1107
By:
Representatives Manning of the
32nd,
Golick of the
34th,
Gardner of the
57th,
Barnard of the
166th,
and Hudson of the
124th
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 an income tax credit with respect to qualified low flush
toilet expenses; 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 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 the imposition, rate, and computation of income tax, is amended by adding a
new Code section to read as follows:
"48-7-29.13.
(a)
As used in this Code section, the term:
(1)
'Commercial building' means any type of building other than
residential.
(2)
'Low flush toilet' means a toilet which uses an average of less than or equal to
1.6 gallons of water per flush.
(3)
'Qualified low flush toilet expense' means the expenditure of funds by the
taxpayer for the replacement of such taxpayer´s toilet with a low flush
toilet in the tax year for which the credit under this Code section is claimed
and allowed.
(4)
'Residential' means any building or unit of a building intended for occupancy as
a dwelling but shall not include a hotel or motel.
(b)(1)
A taxpayer shall be allowed a credit against the tax imposed by Code Section
48-7-20 or 48-7-21for qualified low flush toilet expenses in an amount not to
exceed the actual amount expended or $100.00 per replacement, whichever is less,
for the replacement of not more than three toilets in a residential building in
a single tax year.
(2)
A taxpayer shall be allowed a credit against the tax imposed by Code Section
48-7-20 or 48-7-21 for qualified low flush toilet expenses in an amount not to
exceed the actual amount expended or $100.00 per replacement, whichever is less,
for the replacement of not more than six toilets in a commercial
building.
(c)
In no event shall the total amount of the tax credit under this Code section for
a taxable year exceed the taxpayer´s income tax liability. Any unused tax
credit shall be allowed the taxpayer against succeeding years´ tax
liabilities. No such tax credit shall be allowed the taxpayer against prior
years´ tax liabilities.
(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, 2008.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.