ATLANTA (April 3, 2009)— Today the Georgia General Assembly gave final passage to a true stimulus package with a joint House and Senate Conference Committee approving the Jobs, Opportunity, and Business Success Act of 2009 (JOBS Act). Sen. Jim Butterworth (R-Cornelia) supported the bill.
“This plan sets Georgia on the right path towards economic recovery with investing in hard-working people and free-market solutions, and getting government out of the way,” said Butterworth. “I firmly believe that the hard-working citizens of Georgia are the answer to finding economic success, not inflating government to solve all our problems and this legislation creates ways to create true and sustainable job creation and takes advantage of the intellectual and entrepreneurial spirit of everyday Georgians.”
House Bill 481 and 482 comprise the JOBS Act with HB 481 providing a new business filing fee holiday, a $500 credit towards the unemployment insurance tax for each eligible employee hired, a $2,400 income tax credit for each eligible employee hired, and the elimination of the sales tax deposit. HB 482 would eliminate the state inventory tax on all Georgia businesses.
The conference committee added several key measures to further benefit Georgia businesses. The final version will eliminate the business intangibles tax and will also cut the state capital gains tax in half from its current rate. Butterworth also praised the Act as the most pro-business legislation the General Assembly has ever considered and believes its focus on protecting the small business will be the key to bringing Georgia through the current recession.
The JOBS Act will now head to Governor Sonny Perdue’s office for his signature before becoming law.
Sen. Jim Butterworth represents the 50th Senate District which includes Towns, Rabun, Habersham, Stephens, Banks, Franklin, and Hart counties along with a portion of White County. He can be reached by phone at 404.463.5257 or by email at jim.butterworth@senate.ga.gov.
PRESS RELEASE
For Immediate Release:
April 3, 2009
For Information Contact:
Raegan Weber, Director
Kallarin Richards, Senior Communications Specialist
kallarin.richards@senate.ga.gov
404.656.0028