Governor Kemp Signs Tax Cut Legislation

ATLANTA - Today, Speaker of the House Jon Burns (R-Newington) and other legislators joined Governor Brian Kemp in Augusta, Ga. as he signed several bills into law to cut taxes for Georgians. Gov. Kemp signed House bills 1015, 1021, 1023, and 581, several of which were House priorities during the 2024 legislative session.

"I am extremely proud of the House's hard work during this year's legislative session to get these important bills across the finish line," said Speaker Burns. "As Georgians continue to grapple with inflation, these measures will serve as a crucial step toward putting money back in taxpayers' pockets and providing financial relief at a time when Georgians need it most."

House Bill 1015 will lower the individual income tax rate from 5.49 percent to 5.39 percent, and will become effective on January 1, 2024.

House Bill 1021 will increase the personal exemption for each dependent from $3,000 to $4,000.

House Bill 1023 will change the rate of taxable net income for corporations from 5.75 percent to the same rate as the individual income tax rate in the corresponding year.

House Bill 581 will limit increases in property taxes year to year.

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