Published on: Feb. 12, 2024
Legislative Update for February 12, 2024

The Georgia House of Representatives has passed a midyear budget with $5 billion in new spending allocations. This budget includes a $178 million investment for a new dental school at Georgia Southern University’s Armstrong Campus in Savannah. Additionally, the budget allocates funds for roadwork, rural development projects, and bonuses for state employees.

Alongside the budget, the House also approved several bills to provide tax relief for Georgia residents. House Bill 1015 reduces the state’s income tax rate from 5.49% to 5.39%, offering taxpayers an estimated $300 million in savings. House Bill 1021 expands the child tax credit from $3,000 to $4,000 per child. Finally, House Bill 1019 doubles the state homestead exemption from $2,000 to $4,000, effectively reducing property taxes for homeowners.

These measures reflect Georgia’s current budget surplus and aim to invest in infrastructure and education while providing taxpayers financial relief. Following their approval by the House, the bills will now proceed to the Senate for further consideration.

Chamber News
This website uses cookies to ensure you get the best experience on our website. Privacy Policy | GDPR FAQ