07 LC 18
6220
House
Bill 674
By:
Representative Hembree of the
67th
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 wildlife
rehabilitator 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; 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 to read as follows:
"48-7-29.13.
(a)
As used in this Code section, the term 'qualified wildlife rehabilitator
expense' means the expenditure of funds used directly for wildlife
rehabilitation by a taxpayer who is licensed by the Department of Natural
Resources as a wildlife rehabilitator.
(b)
A taxpayer shall be allowed a credit against the tax imposed by Code Section
48-7-20 for qualified wildlife rehabilitator expenses in an amount not to exceed
the actual amount expended or $500.00, whichever is less, upon submission of
receipts documenting such expenses.
(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
liability. No such credit shall be allowed the taxpayer against prior
years´ 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 on January 1, 2008, 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laws and parts of laws in conflict with this Act are repealed.