At the end of its recent session, the Georgia General Assembly passed HB 464 by unanimous votes to cap the land conservation tax credit at $30 million for 2016 and then eliminate it altogether at the end of 2016. HB 464 also repeals the tax credits for water conservation facilities and ending groundwater usage, effective at the end of 2016.
The original bill, introduced by Representative Bruce Williamson (R-115; Monroe), did not address the land conservation tax credit. Section 1 of the original bill repeals the tax credit for water conservation facilities; Section 2 ends the tax credit for shifting from ground-water usage; both repeals are effective at the end of 2016. The House Ways and Means Committee added Section 3 to the bill which caps and sunsets the land conservation tax credit at the end of 2016.
The bill was sent to the Governor on April 7, but so far, he has not signed it.