Sales Tax Exemption for Certain Purchases of Computer Equipment
Act 842 (H.B. 1291) extends the sunset of the exemption for purchases of qualified computer equipment within O.C.G.A. § 48-8-3(68). Beginning in 2024, qualifying purchases (required to meet the $15 million threshold) will include only taxable purchases and leases, specifically excluding prewritten computer software (electronically delivered or otherwise) as a qualifying purchase. Additionally, starting in 2024, the exemption would not apply to 10% of the first $15 million of qualifying purchases, with a full exemption on qualified purchases beyond that threshold.
Sales Tax Exemption for Data Centers
Act 842 also extends the sunset of the Data Center exemption in O.C.G.A. § 48-8-3(68.1) from 2028 to 2031 and modifies the job creation and investment requirements as follows: (i) increases the job creation requirement from 20 to 25 quality jobs in counties with populations greater than 50,000; (ii) decreases the job creation requirement from 20 to 10 quality jobs and decreases the minimum investment from $150 million to $75 million in counties with population between 30,000 and 50,000; and (iii) decreases the job creation requirement from 20 to 5 quality jobs and decreases the minimum investment from $100 million to $25 million in counties with a population of less than 30,000.
Act 842 amends Ga. Code Ann. Section 48-8-3.
Ad Valorem Tax Exemption for Timber Equipment
Act 859 (H.B. 997) provides a tax exemption for all equipment, other than motor vehicles, used in the production or harvest of timber or timber products effective January 1, 2023, conditioned upon the approval of the voters in the election to be held on the Tuesday following the first Monday in November 2022.
Act 859 amends Ga. Code Ann. Section 48-5-41.3.
Historic Tax Credits
Act 812 (H.B. 469) extends the sunset date of historic property rehabilitation credits for historic homes and for certified structures other than historic homes to December 31, 2027. Act 812 also capped the aggregate amount of credits issued in calendar years 2023 and 2024 to $5 million per year and authorized no credits starting January 1, 2025 and thereafter. For certified structures other than historic homes, Act 812 capped the aggregate amount of credits issued in calendar years 2023 through 2027 to $30 million per calendar year.
Act 812 amends Ga. Code Ann. Section 48-7-29.8.
Rural Hospital Tax Credits
Act 832 (H.B. 1041) increases the aggregate limit of tax credits for contributions to rural hospital organizations from $60 million to $75 million per tax year.
Act 832 amends Ga. Code Ann. Section 48-7-29.20.