HB393: Georgia Music Investment Credit Act; enact

Legislative Summary

A BILL to be entitled an Act to amend Chapter 7 of Title 48 of the O.C.G.A., relating to income taxes, so as to provide for tax credits for certain contributions made by taxpayers to certain organizations investing in musical or theatrical performances or productions; to provide for definitions; to provide for limitations on the amount of tax credits allowed; to provide for terms and conditions; to provide for applications and certifications; to provide for the revocation of qualified status; to provide for audits; to provide for certain penalties; to require annual reporting; to provide for the discretion to refer certain acts to the Attorney General for investigation and prosecution; to provide for the promulgation of rules and regulations; to provide for a short title; to provide for related matters; to repeal conflicting laws; and for other purposes.