On February 13, 2025, the Georgia House of Representatives’ Ways and Means committee met to discuss and potentially advance HB 223. Select the associated link to read the bill in full.
Ways and Means
HB 223
This bill would provide tax relief to people who have lost crops due to Hurricane Helene. This is essentially a re-do of the bill passed after Hurricane Michael with some additional provisions.
The first provision allows for any payment for federal disaster relief, or any payment for crop insurance, to be exempt from state income tax starting on January 1, 2024.
The second provision allows timber owners in the affected counties (listed in the Governor’s executive order) to write off 100% of their timber casualty loss or be exempt from taxes. There will be a maximum of $400 per acre credit, and the bill requires that these farmers to replant. Timber owners may carry this forward year by year up to 2030 and may transfer this credit one time if needed. This structure should generally cover the cost of reforestation. The Commissioner of the Department of Revenue will implement an application process and request information of both the taxpayer utilizing the credit and anyone who is a transferee.
The third provision is a tax exemption on sales tax for any construction materials and the rebuilding of livestock and greenhouses through December 2025.
The bill passed committee.
