Legislative Update

2024 Amendments Affecting the Georgia HEART Program

On April 19, 2024, Governor Brian P. Kemp signed House Bill 1339, which includes in Section 11 the following amendments to O.C.G.A. § 48-7-29.20 – Tax credits for contributions to rural hospital organizations – effective January 1, 2025:

  1. Program is extended for five additional years – from original sunset date of 12/31/24 to 12/31/29.
  2. Annual aggregate amount of tax credits allowed is increased from $75 million to $100 million.
  3. Individual owner of a pass-through entity (member of a limited liability company duly formed under state law, a shareholder of a Subchapter ‘S’ corporation, or a partner in a partnership) is able to contribute up to $25,000 (increased from $10,000) in the first six months of the year. (Contributions from this taxpayer type are unlimited in the second half of the year, as always.)
  4. Payment deadlines for applicants are revised, as follows:
    • A taxpayer preapproved by the DOR on or before September 30 shall make the contribution within 180 days after DOR preapproval, but not later than October 31.
      • This means that applicants preapproved by April 30 will have 180 days to make payment. 
      • Applicants preapproved between May 1st and September 30th will have until October 31st to make payment.
    • A taxpayer preapproved by the DOR after September 30 shall make the contribution on or before December 31.
      • Applicants preapproved after September 30th will have until December 31st to make payment. 

Note that the revised payment deadlines should help ensure that all available tax credits are utilized, eliminating the instances in which non-payment of amounts due on the last day of the year go unfunded, without sufficient time to allocate them to other interested taxpayers.