| Georgia House Bill 1274 (2008) |
 |
Georgia House Bill 1274 (2008)
GA; Legislative Updates; H.B. 1274, Gen. Assem., Reg. Sess. (Ga. 2008).
|
View Status
View Text
|
Abstract:
This bill would amend the Georgia Conservation Tax Credit Act and better align the implementation of the program with the federal Internal Revenue Code. The primary purposes of this bill are to: Define the fair market value of qualifying donated real property as that established by a property appraisal meeting specific IRS requirements; Provide for penalties for donated property valuation misstatements on tax returns; Allow for sales of qualifying real property at less than fair market value to qualify under the program; Allow for the donation of qualifying real property to the federal government to qualify under the program; and Extend from 5 to 10 years, the period of time that a taxpayer can carry forward any unused credit under the program
| |
