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In a significant move for Georgia residents, Governor Brian Kemp has enacted two pivotal bills, one of which introduces tax rebates for taxpayers, while the other temporarily halts the state’s motor fuel tax for a period of 60 days.
Earlier this week, the Georgia General Assembly gave the green light to House Bill 1199, which focuses on suspending the state’s gasoline tax. Governor Kemp expressed that drivers could soon expect to see a reduction in fuel prices as gas stations begin restocking their supplies under the new tax policy.
For context, the Georgia House recently approved a measure to pause the gas tax for two months, aiming to provide financial relief amid rising fuel costs.
Currently, the average price for a gallon of gasoline in Georgia hovers around $3.75, a notable increase of nearly 89 cents compared to the same period last year, as reported by GasBuddy.
“The suspension of the state gas tax, facilitated by House Bill 1199, will help save Georgia’s hardworking citizens and the truckers vital to our economy nearly $400 million over the next two months,” stated Speaker Jon Burns, highlighting the bill’s economic impact.
PREVIOUS COVERAGE: Georgia Senate approves tax rebate of up to $500 for residents
The signed tax relief bill gives taxpayers a one-time credit when they file their 2024 or 2025 state income taxes.
According to officials, the tax credit under the plan provides $250 for single filers, $375 for heads of household, and $500 for married couples filing jointly.
Georgians may be eligible for the surplus tax refund if you:
- File your Individual Income Tax Return for tax year 2023 and tax year 2024 by the May 1, 2025, deadline (or by October 15, 2025, if an extension was granted)
- Had a tax liability for tax year 2023
- Are a Georgia resident, part-year resident, or nonresident
A statement released by Governor Kemp’s office says that when added to previous tax rebates, rate reductions, and suspensions of the gas tax, Gov. Kemp will have saved or returned over $11.8 billion to Georgia taxpayers with the help of the General Assembly.