The annual IRS update bill, which was signed into law midway through the session, ensures the continued stability and compliance of the Georgia Revenue Code that is vital to the operation of businesses of all sizes. The law incorporates the now permanent Section 179 of the IRS Code that allows small businesses to deduct up to $500,000 on new and used equipment and software.
This session, the policy committee proposed a revision to the definition of taxpayer with regards to the Quality Jobs Tax Credit. HB 922, sponsored by Rep. Bruce Williamson (R-Monroe) and awaiting the Governor’s signature, ensures that corporations creating more than 50 jobs in the state through disregarded entities are eligible to qualify for the Quality Jobs Tax Credit.
The Innovation & Technology Committee hosted a reception at Google Atlanta on April 13, 2016. Georgia Chamber President & CEO Chris Clark facilitated an interactive polling experience to determine innovation and technology issues affecting companies in the state and gain insight on where the Chamber should focus policy efforts.
In April, the Business & Industry Committee began its first of 5 meetings around the state with a tour of the Georgia Ports Authority, the fourth busiest port in the U.S. and fastest growing
Both employers and students stand to benefit from a bill passed this session that incentivizes employers to provide work based learning opportunities. Sponsored by Eddie Lumsden (R-Armuchee), HB 402 authorizes insurers to grant up to a 5 percent workers’ compensation rate reduction to employers who offer work-based learning opportunities.
An effort to protect small businesses from onerous federal overreach successfully passed this session and awaits the Governor’s signature. The Protecting Georgia Small Business Act (SB 277), sponsored by Senator John Albers (R-Roswell), clarifies that under state law neither a franchise nor an employee of that franchise can be considered employees of the larger franchisor.
On the federal level, the chamber is monitoring the U.S. Department of Labor proposed overtime regulation that mandates overtime pay for salaried workers making $50,400 or less””up from $23,660 a 113% increase. If efforts to block the rule aren’t successful, employers may have to comply as soon as July 2016.
The Georgia Chamber is working with the U.S. Chamber to host a summit in Atlanta centered around workplace wellness initiatives. Supported by a private foundation grant, the Chamber will bring in guest speakers from the public and private sectors to discuss successful wellness initiatives and ways employers can reduce costs while helping their workers lead healthier lives.
A major ongoing initiative at the Georgia Chamber is a comprehensive study of the state’s Medicaid program and its impact on individuals in the “coverage gap,” delivery of healthcare, as well as the impacts on rural doctors and hospitals with an eye toward developing a “Georgia-specific” program to address glaring problems in the aforementioned areas. Recently, House Minority Leader Stacy Abrams referenced efforts to expand…
The Governor’s Education Reform Commission proposals, which were adopted in December 2015 with the intention of becoming a package of legislation in 2016, is still scheduled to be taken up during the 2017 session. Governor Deal has continued to reiterate his intention to make funding reform a top priority during the 2017 session. Comprehensive funding reform was the largest and most controversial component of the…