TAX CUTS for You
[March 07, 2022] | We have had busy days at the Capitol this past week and will for the next two. Every representative is trying to get their bills heard on the floor so the bills can move to the Senate for their consideration. A lot of our time is spent reading over other representatives' bills and making suggestions for improvements or working to stop them from progressing forward. Yes, that does cause some hard feelings when your idea gets stopped by a committee chairman or Rules Committee member. I have been on both sides of this over the years.
One thing we all work toward is Tax Relief for you. We passed historic legislation that will help millions of hardworking Georgians. Our state?s economy has bounced back exponentially over the last year, resulting in an unprecedented budget surplus of $1.6 billion in undesignated funds. To that end, House Bill 1302 would fulfil the Legislature?s and Governor?s plan to give these funds back to Georgia taxpayers. This legislation would provide a one-time tax credit for eligible Georgia taxpayers who filed income tax returns in both 2020 and 2021. Based on their 2020 tax filer status, single tax filers would receive a $250 refund, head-of-household filers would receive $375, and those who file jointly would receive a $500 refund. If HB 1302 is signed into law, the refund would be automatically credited once a taxpayer files an income tax return for 2021. This legislation will now move to the Senate for their approval.
It is rare these days for a bill to pass unanimously, but HB 1064 did when we passed another bill to keep more hard-earned dollars in the pockets of Georgians and reinforce our standing as a military-friendly state. House Bill 1064 would exempt up to $17,500 in military retirement income from state income taxes for retired service members under 62 years old. If a military retiree continues to work and earns at least $17,500, the retiree would be eligible for an additional exemption up to $17,500 in state income taxes for a total exemption of $35,000. If HB 1064 is passed and signed into law, it would become effective on July 1, 2022. Through this legislation, we hope to attract more military retirees to Georgia to put their skills to work in our state. We are honored that so many U.S. military retirees have already chosen to call Georgia home, and this legislation would greatly benefit these individuals, especially as the cost of living and inflation has increased recently.
GO DOGS! Kirby Smart, head coach at UGA, brought the National Championship trophy to the Capitol this week and was our first special guest since covid stopped us from having guests two years ago. Pretty neat to see it and to congratulate the Dawg nation for their National Championship win.
We received calls about all sorts of issues this week in the office, and I am glad you trust me to answer them. It has always been one of my top priorities to help my constituents and to hear your feedback about the work we are doing in Atlanta. I encourage you to reach out if you have any questions or concerns regarding legislation that has been discussed or passed so far. You can reach my Capitol office at 404-656-7153, or you can email me directly at rick.jasperse@house.ga.gov.
As always, thank you for allowing me to serve as your State Representative and legislative voice here at the Capitol.