07 LC 34
1175
House
Bill 686
By:
Representative Davis of the
109th
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 taxable net income, so as to exempt military income received
by a member of the national guard or any reserve component of the armed services
of the United States stationed in defense of the borders of the United States
pursuant to military orders; to provide for related matters; to provide for an
effective date; 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 taxable net income, is amended by revising paragraph (12) of
subsection (a) as follows:
"(12)
Military 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
or stationed
in defense of the borders of the United
States pursuant to military orders. The
exclusion provided under this paragraph:
(A)
Shall apply with respect to each taxable year, or portion thereof, covered by
such military orders; and
(B)
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 military income
earned during the period covered by such military orders;"
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.