Georgia legislation · 2025-2026 Regular Session
Georgia HB1153: Revenue and taxation; tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; provide
Status: In committee, February 4, 2026
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, exemptions, and credits, so as to provide a tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; to provide for application and approval; to provide for rules, regulations, and forms; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
What the bill says
To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to imposition, rate, computation, exemptions, and credits, so as to provide a tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; to provide for application and approval; to provide for rules, regulations, and forms; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
From the introduced text:
A BILL TO BE ENTITLED To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to imposition, rate, computation, exemptions, and credits, so as to provide a tax credit for newly constructed residences built by a residential contractor or builder that are sold to taxpayers earning no more than 80 percent of the area median income; to provide for application and approval; to provide for rules, regulations, and forms; to provide for related matters; to provide for 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 relating to imposition, rate, computation, exemptions, and credits, is amended by adding a new Code section to read as follows: "48-7-43. (a) As used in this Code section, the term 'area median income' means the median income for the area in which a newly constructed residence is located as determined by the department. H. B. 1153 LC 59 0219 (b) Beginning January 1, 2027, a state tax credit against the tax imposed by this article shall be allowed with respect to each newly constructed residence built by a residential contractor or builder that is …