State Rep Derek Mallow Introduces Legislation to Provide Income Tax Credit to Lower Income Renters

State Representative Derek Mallow (D-Savannah) recently introduced House Bill 979, legislation which would provide a $60 income tax credit to lower income renters in Georgia.

“This income tax credit would put hard earned dollars back in the pockets of Georgia families who are struggling to keep up with inflation,” said Rep. Mallow. “The cost of rent, groceries, gas and all other necessities have sky-rocketed this last year, but this tax credit could mean the difference between choosing to pay a bill, putting gas in the tank and even making rent for the next month. I appreciate the legislators who signed onto this bill, and I hope that the rest of my colleagues can recognize that low-income renters have become even more financially vulnerable during these times.”

House Bill 979 would provide a $60 income tax credit to an individual taxpayer who earns up to $27,000, a taxpayer who files as a head of household and earns up to $30,000, married taxpayers who file jointly and earn up to $35,000 or a married taxpayer who files separately and earns up to $27,000. Additionally, eligible taxpayers would be required to demonstrate that he or she paid at least $800 per month for at least six months to rent their housing during the applicable tax year. If HB 979 is passed and signed into law, eligible taxpayers would be able to claim this $60 income tax credit starting January 1, 2023.

HB 979 First Reader Summary: A BILL to be entitled an Act to amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to imposition, rate, computation, and exemptions from income taxes, so as to provide for a tax credit for lower income individuals who lease dwellings under certain conditions; to provide for conditions and limitations; to provide for rules and regulations and forms; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.

For more information on HB 979, click here.

Representative Derek Mallow represents the citizens of District 163, which includes portions of Chatham County. He was elected to the House of Representatives in 2020 and currently serves on the Economic Development & Tourism, State Planning & Community Affairs and Retirement committees.