A BILL to be entitled an Act to amend Article 2 of Chapter 7 of Title 48 and Part 1 of Article 4 of Chapter 12 of Title 45 of the Official Code of Georgia Annotated, relating to the imposition, rate, computation, exemptions, and credits relative to income taxes and management of budgetary and financial affairs, respectively, so as to reduce the income tax rate that may be reached under certain conditions; to provide for certain amounts of the Revenue Shortfall Reserve to be used for tax relief; to increase the limitation on the maximum percentage of net revenue allowed to be held in the Revenue Shortfall Reserve; to remove outdated provisions; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

Statutes affected:
LC 50 1139/a: 48-7-20, 45-12-93