Georgia Code
Article 2 - Imposition, Rate, Computation, Exemptions, and Credits
§ 48-7-40.24. Tax Credits for Jobs Associated With Large-Scale Projects

but such term shall not include any event or circumstance that could have been prevented, overcome, or remedied in whole or in part by the taxpayer through the exercise of reasonable diligence and due care, nor shall such term include the unavailability of funds.
(.1) “Affiliate” means the members of a business enterprise’s affiliated group within the meaning of Section 1504(a) of the Internal Revenue Code and also means any entity, notwithstanding its form of organization, that would otherwise qualify as a member of such affiliated group.
History. Code 1981, § 48-7-40.24 , enacted by Ga. L. 2003, p. 665, § 8; Ga. L. 2004, p. 690, § 20; Ga. L. 2005, p. 60, § 48/HB 95; Ga. L. 2009, p. 806, § 1/HB 438; Ga. L. 2012, p. 976, § 1/HB 1027; Ga. L. 2012, p. 1309, § 6/HB 868; Ga. L. 2013, p. 141, § 48/HB 79; Ga. L. 2021, p. 289, § 2-3/SB 6.
The 2021 amendment, effective July 1, 2021, deleted the former second sentence in subsection (g), which read: “In no event may a credit be claimed under this Code section for more than 4,500 new full-time employee jobs created by any one project; provided, however, that the taxpayer may claim the credits provided by Code Sections 48-7-40 and 48-7-40.1 for any such additional jobs if the taxpayer meets the terms and conditions thereof.”; designated the existing provisions of subsection (i) as paragraph (i)(1), in paragraph (i)(1), in the first sentence, inserted “and paragraph (2) of this subsection” near the beginning, and deleted “48-7-40.11,” following “48-7-40.10,” in the middle and added paragraph (i)(2); added subsections (p) and (q); and redesignated former subsection (p) as present subsection (r).
Editor’s notes.
Ga. L. 2003, p. 665, § 1, not codified by the General Assembly, provides that: “This Act shall be known and may be cited as the ‘State and Local Tax Revision Act of 2003.’ ”
Ga. L. 2003, p. 665, § 47(b), not codified by the General Assembly, provides that this Act shall be applicable to all taxable years beginning on or after January 1, 2003.
Ga. L. 2009, p. 806, § 2/HB 438, not codified by the General Assembly, provides, in part, that the amendment to this Code section shall be applicable to all taxable years beginning on or after January 1, 2009.
Ga. L. 2012, p. 976, § 3(b)/HB 1027, not codified by the General Assembly, provides, in part, that the amendment to this Code section shall apply to all tax years beginning on or after January 1, 2012.
Ga. L. 2012, p. 1309, § 7/HB 868, not codified by the General Assembly, provides, in part, that the 2012 amendment shall be applicable to all taxable years beginning on or after January 1, 2013.
Ga. L. 2021, p. 289, § 1-1/SB 6, not codified by the General Assembly, provides, in part, that: “Parts II through IV of this Act shall be known and may be cited as the ‘Georgia Economic Renewal Act of 2021.’ ”
Law reviews.
For note on the 2003 enactment of this Code section, see 20 Georgia St. U.L. Rev. 233 (2003).
For article, “SB 6: The Review, Creation, and Extension of Georgia Tax Credits and Deductions,” see 38 Ga. St. U.L. Rev. 167, 168 (2021).

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