Bill Text: GA HB971 | 2009-2010 | Regular Session | Comm Sub

Georgia House Bill 971 (Prior Session Legislation)

Bill Title: Income tax payment; refund or waiver of de minimis overpayments and insufficiencies; provide

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2010-03-18 - House Committee Favorably Reported [HB971 Detail]

Download: Georgia-2009-HB971-Comm_Sub.html

10 LC 18 9065S

The House Committee on Ways and Means offers the following substitute to HB 971:

A BILL TO BE ENTITLED
AN ACT

To amend Article 5 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to current income tax payment, so as to provide for conditions of refunding de minimis overpayments; to provide for waiver of de minimis insufficiencies; to provide an effective date; to provide for applicability; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 5 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to current income tax payment, is amended by adding a new Code section to read as follows:

"48-7-130.

(a) If the amount deducted, withheld, or prepaid and credited to a taxpayer against the taxpayer's income tax liability for a taxable year exceeds such income tax liability by $1.00 or less, such amount shall not be refunded unless the taxpayer requests a refund of such overpayment amount on the income tax return of the taxpayer.

(b) If a taxpayer's income tax liability for a taxable year exceeds the amount deducted, withheld, or prepaid and credited to the taxpayer against such liability for the taxable year by $1.00 or less, then the amount of such insufficiency on the return shall be waived, the taxpayer shall not be liable for that insufficiency, and no income tax shall be due and payable from the taxpayer for that taxable year."

SECTION 2.

This Act shall become effective upon its approval by the Governor or upon its becoming law without such approval and shall be applicable to all taxable years beginning on or after January 1, 2010.

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.