Following Monday’s deadline for Governor Brian Kemp to either sign or veto bills that passed the General Assembly this past session, over 350 bills earned his signature. If a bill that passed during session is not signed by the Governor, the bill becomes law. Vetoed legislation requires two-thirds majority vote by the General Assembly to be overturned.
Among the bills signed by the Governor include HB 128 that would streamline the state certification and procurement processes for minority-owned, women-owned, and veteran-owned businesses. HB 408 was also signed into law, extending the sales tax exemption for major economic development projects of regional significance like the recent Hyundai EV Plant announcement in Savannah.
The Governor vetoed 14 bills and issued statements that can be read here. Governor Kemp also signed the Fiscal Year 2024 Budget and made 9 line-item vetoes. Included in the FY24 budget are pay increases for law enforcement officers, teachers, and state employees. The budget also fully funds the HOPE scholarship.
Income tax filers in Georgia began receiving their one-time tax refund from HB 162 passed by the General assembly and signed by Governor Kemo during session. The special one-time refund checks are due to a surplus of state revenue last fiscal year. Earlier this week, the Governor announced April’s net tax revenues being down 16.5% compared to last April, largely due to a decline in individual income tax collections.
To learn more about the Chamber’s public policy initiatives, visit https://gwinnettchamber.org/publicpolicy/