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TAX REFUND: GA Senate passes bill to put cash back into Georgians pockets
ATLANTA — Georgians are one step closer to getting some cool hard cash in their hands in the form of another state income tax rebate.
The Georgia Senate has passed HB 162, which would give people who filed taxes in both 2021 and 2022 up to $500.
The bill will now go to Gov. Brian Kemp to sign, which would fill one of his campaign promises.
Single filers would see a $250 refund, Head of Households with dependents would see up to $375 and married couples filing jointly would get $500.
They would be automatic for anyone who files a 2021 and 2022 return, with no further action required. People who don’t owe state income taxes, including many retirees, wouldn’t get any money.
Kemp can seek another year of rebates because the state coffers continue to overflow. Georgia ended its last budget year with $6.6 billion in surplus revenue in the bank, even after the state’s rainy day fund was filled to its legal limit of $5.2 billion. Budget projections released in January show revenue collections are likely to end the current 2023 budget year $2.4 billion above original projections.
It’s unclear when Georgians would start to see the rebates, although your 2022 must be filed before you’ll see the rebate.