[July 01, 2025] | Sorry I am a little late writing these articles. I had some eye surgery that has slowed me down a bit. Got to thank Marcia and all who have helped me.
So, January through the first of April the legislature meets and works on bills to keep Georgia a great place to work, live, and play. Governor Kemp then gets his shot at signing or vetoing bills we have passed. Most of the bills he signed have a start date on July 1.
I will spend the next few weeks sharing what we have done. Of course, if you have questions, please call on me and we'll do our best to answer.
Let's start with your money and your finances.
HB 111 accelerates the largest state income tax cut in Georgia history initiated by the signing of HB 1437 in 2022. Taxpayers will see the reduced rate reflected in their withholding beginning in July.
HB 111 doubles down on the efforts of prior years to reduce the tax burden on Georgians and job creators. With this second acceleration cutting the state income tax rate by another 20 basis points, the total income tax rate will now be down to just 5.19 percent - a decrease of 56 basis points from the original rate of 5.75 percent. This expedited cut will save Georgians another 880 million dollars on their tax returns next year.
HB 112 authorizes the delivery of $1 billion in one-time surplus tax refunds of up to $500 per Georgia tax-payer household. Taxpayers must file their 2023 and 2024 taxes prior to receiving the refund. As in previous years, single tax filers and married individuals who file separately could receive a maximum refund of $250, head of household filers could receive a maximum refund of $375, and married individuals who file joint returns could receive a maximum refund of $500, based on an individual or couple's tax liability. The Dept of Revenue will issue most special income tax refunds by July 1 of this year, for those who file on or before May 1. You may have already received your check.
There are always questions when it comes to money, so the Dept of Revenue has a list of Frequently asked questions for this year's tax refund. You will also have the ability to check the status of this special tax refund via an additional tool on the DOR website.
HB 136 is for families. It will expand the current tax credit for child and dependent care expenses from a 30% match of the federal credit to a 50% match. The bill also creates a new Georgia Child Tax Credit, which will allow taxpayers to claim an income tax credit of $250 for each child under the age of 6 years old. Finally, the bill creates a new incentive for employers to cover childcare expenses. This program will allow an employer to claim a $1,000 credit in the first year and $500 in subsequent years for any employee for which the employer covers at least $1,000 in childcare costs. The bill also preserves the existing tax credit program for employer-sponsored childcare centers.
So, that's all the space I have for this week. We will continue to let you know what is in effect over the next few weeks.
If you have questions send me an email at rick.jasperse@house.ga.gov or give me a call at the Capitol at 404-656-7153. Thank you for allowing me to be your State Representative.