Income tax credit; incentives to promote the revitalization of rural Georgia downtowns; provide

A BILL to amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the imposition, rate, computation, and exemptions from state income taxation, so as to provide tax credit incentives to promote the revitalization of vacant rural Georgia downtowns by encouraging investment, job creation, and economic growth in long-established business districts; to provide for definitions; to delineate procedures, conditions, eligibility, and limitations; to provide for powers, duties, and authority of the commissioner of community affairs, the commissioner of economic development, and the revenue commissioner; to provide for related matters; to provide for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.