ATLANTA (WALB) – Governor Brian Kemp will sign a number of economic and business laws on Tuesday morning.
The invoice is signed at 10:30 a.m.
He signs the following:
This bill provides tax incentives for job creation and economic development in many areas of the Georgian economy, including medical manufacturing, effective aerospace defense projects, and historical rehabilitation. The bill also adds transparency to tax incentives by allowing both the Senate Funding Chair and House Ways and Means Chair to request an economic analysis of up to five tax credit programs per year.
This invoice codifies a previous Executive Order signed by Kemp. With this bill, building owners and building contractors can use private professional providers for plan reviews and inspections immediately after their application has been accepted by a district or a municipality.
This law allows manufacturers to extend any free port exemption they request in 2020 until the remainder of 2021. With the exemption of level 1 free ports, cities and counties can decide, with the consent of their voters, whether they want to exempt manufacturers’ personal property from tax for 12 months. Kemp’s office said this bill will ease the tax burden on Georgian manufacturers as they continue to recover from the economic impact of COVID-19.
This bill enables an animal-based approach to the definition of small business in Georgia, enables data sharing between state agencies, and codifies a definition for a startup in Georgia law.
This bill constitutes the crime of organized retail theft when one or more people are organized, planned, funded, directed, managed, or monitored to steal property from a retail business.
This bill allows partnerships and suburban companies in Georgia to make an annual, irrevocable decision on whether to pay their state income taxes at the company level rather than at the shareholder or partner level.
A number of other new laws on adoption and street racing appeared on the Georgia Books Monday after being signed by Kemp.
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