Georgia Small Business Healthcare Affordability Act; enact
What changed between versions
The definition of 'qualified taxpayer' was expanded to require businesses to have operated in Georgia since January 1, 2013, and to offer employees paid vacation days, parental leave, and access to health savings accounts in addition to the existing health reimbursement arrangement requirement.
New requirements were added mandating that qualified taxpayers provide employees with at least ten paid vacation/personal days, paid parental leave, and access to a health savings account to maintain eligibility for the tax credit.
A new subsection was added clarifying that tax credits for pass-through entities can be claimed by members, shareholders, or partners based on their distributive income percentage.
A new provision was added stating that the total tax credit allowed to any taxpayer cannot exceed their income tax liability.
The bill title was changed from 'Georgia Small Business Healthcare Affordability Act' to 'Georgia Small Business Resiliency Act' to reflect the broader scope of requirements.
