09
LC 18 7673
House
Bill 269
By:
Representative Fludd of the
66th
A
BILL TO BE ENTITLED
AN ACT
To
amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia
Annotated, relating to imposition, rate, computation, and exemptions regarding
income taxes, so as to revise and change the tax credit for qualified caregiving
expenses; 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 imposition, rate, computation, and exemptions regarding income taxes, is
amended by revising Code Section 48-7-29.2, relating to the tax credit for
qualified caregiving expenses, as follows:
"48-7-29.2.
(a)
As used in this Code section, the term:
(1)
'Qualified caregiving expenses' means payments by the taxpayer for home health
agency services, personal care services, personal care attendant services,
homemaker services, adult day care, respite care, or health care equipment and
supplies which equipment and supplies have been determined to be medically
necessary by a physician which services, care, or equipment and supplies
are:
(A)
Provided to the qualifying family member; and
(B)
Purchased or obtained from an organization or individual not related to the
taxpayer or the qualifying family member.
(2)
'Qualifying family member' means the taxpayer or an individual who is related to
the taxpayer by blood, marriage, or adoption and who:
(A)
Is at least 62 years of age; or
(B)
Has been determined to be disabled by the Social Security
Administration.
(b)
A taxpayer shall be allowed a credit against the tax imposed by Code Section
48-7-20 for qualified caregiving expenses in an amount not to exceed
10 percent
of the total amount expended for qualified
caregiving expenses. No taxpayer shall be entitled to such credit with respect
to the same qualified caregiving expenses claimed by another
taxpayer.
(c)
A taxpayer shall only be authorized to claim and receive the credit under this
Code section if the taxpayer's Georgia taxable net income does not exceed
$200,000.00 in the taxable year for which the credit under this Code section is
claimed.
(c)(d)
In no event shall the amount of the tax credit exceed
$150.00
or the taxpayer's income tax
liability,
whichever is less. Any unused tax credit
shall not be allowed to be carried forward to apply to the taxpayer's succeeding
years' tax liability. No such tax credit shall be allowed the taxpayer against
prior years' tax liability.
(d)(e)
No credit shall be allowed under this Code section with respect to any
qualifying caregiving expenses either deducted or subtracted by the taxpayer in
arriving at Georgia taxable net income or with respect to any qualified
caregiving expenses for which amounts were excluded from Georgia taxable net
income.
(e)(f)
The commissioner shall promulgate any rules and regulations necessary to
implement and administer this Code section."
SECTION
2.
This
Act shall become effective on January 1, 2010, 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.