TAG Capitol Update: February 13, 2015

February 13, 2015

       

 TAG CAPITOL UPDATE          Technology: Where Georgia Leads


Join TAG for High-Tech Week at the State Capitol

 

Each year, the technology community comes together to promote the importance of the technology industry to Georgia lawmakers. Join State Lawmakers at the Capitol for the 2015 High-Tech Week to show your support for Georgia's Technology community. The week consists of Health IT Day at the Capitol February 24 featuring Navicure, McKesson, and Healthport Technologies, High-Tech Day Public-Private Sector CIO Lunch February 25, and FinTech and ATPC Day at the Capitol February 26. You will have the opportunity to meet with lawmakers and discuss the issues that are most important to you and your business.

  

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TAG Supports HB 237: Extending Angel Investor Tax Credit 

 

In 2010 the Georgia General Assembly approved the Angel Investor Tax Credit (HB 1069). The objective of the income tax credit was to encourage angel investment, a primary source of funding for early stage businesses. Originally scheduled to sunset in 2013, the Legislature extended the credit for qualifying investments in 2014 & 2015 and expires this year. Without the Angel Investor Tax Credit, many start-ups will neither survive nor become eligible for the next phase of venture capital funding. To make sure early stage businesses have funding opportunities, Rep. Bruce Williamson (R-Monroe) sponsored HB 237 to extend the Angel Investor Tax Credit. Co-sponsors include Representatives Mike Dudgeon (R-Johns Creek), Mark Hamilton (R-Cumming), Chuck Martin (R-Alpharetta), Mat Ramsey (R-Peachtree City), and Chuck Williams (R-Watkinsville).

  

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Senate Passes SB 2: Postsecondary Coursework Awarded Towards high School Graduation Requirements

 

SB 2 is an education bill sponsored by Senator Lindsey Tippins (S-Marietta) relating to the competencies and core curriculum in elementary and secondary education. This bill provides that a student who completes certain requirements relating to postsecondary coursework may be awarded a high school diploma. The bill has been passed and adopted by the senate and introduced to the House of Representatives for review. 

  

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The Solar Industry in Georgia is on the Rise

 

A report from the National Solar Foundation ranked Georgia as having the 14th largest solar-power workforce with 2,900 employees, representing a 13% increase over the past year.  A majority of this growth is associated with Georgia Power Company's reaction to the Public Service Commission requesting more solar power. With the introduction of Mike Dudgeon's (R-Johns Creek) House Bill 57, creating third-party financing of solar technology for small business and homeowners, the industry forecasts a new surge in hiring and solar use in Georgia following the adoption of the bill. Currently, HB 57 was passed and adopted by the Georgia House of Representatives and has been introduced to the Senate for Review. 

 

  

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Successful DC Fly-In with the Georgia Congressional Delegation

 

On February 11, 2015 during the TechAmerica DC Fly-In, more than 100 IT leaders met with more than 125 congressional offices from 25 states. Georgia led this convocation by having the largest group of IT leaders advocating important tech issues to the Georgia Congressional Delegation. A few issues voiced on the hill included the Permanent Internet Freedom Tax Act (IFTA), Cybersecurity, and high-skilled immigration reform. 

 

  

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TAG Supports: U.S. Senator Hatch's 2015 I-Squared Bill 

 

On January 13, 2015 Senator Orrin Hatch introduced the 2015 I-Squared Act (S.153), with Senators Klobucharm Rubio, Coons, Flake, and Blumenthal as co-sponsors. The I-Squared bill brings long overdue reforms to the nation's immigration laws for high-skilled workers that increases the H1-B1 cap from 65,000 to 115,000 and establishes a market escalator so that the cap can be adjusted up or down in response to the demands of the economy. The bill addresses STEM education by reforming theH1-B1 visas fees to fund a grant program to promote STEM education and worker retraining to be administered by the states. 

 

  

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TAG Supports: A Compromise on International Tax Reform

 

The core proposal of President Obama’s 2016 Fiscal Year Budget is a one-time 14% repatriation tax rate on the estimated $2 trillion of untaxed foreign earnings that U.S. companies have accumulated overseas and he plans on imposing a 19% minimum tax on future foreign earnings. Currently, the repatriation tax rate is 35%, leaving little to no incentive to bring these profits back into the country. According to Obama, the one-time toll charge of roughly $238 billion will be devoted to the Highway Trust Fund, financing the President’s 6 year $478 billion Surface Transportation Reauthorization proposal. Republicans on the other hand, aim to have a 5-6% repatriation tax rate on foreign earnings and be voluntary. TAG supports legislation that offers a compromise both parties can agree upon.

 

  

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In This Issue

State:


Join TAG for High-Tech Week at the State Capitol

TAG Supports HB 237: Extending Angel Investor Tax Credit

Senate Passes SB 2: Postsecondary Coursework Awarded Towards High School Graduation Requirements

The Solar Industry in Georgia is on the Rise


 Federal:

Successful DC Fly-In with the Georgia Congressional Delegation


TAG Supports: U.S. Senator Hatch's 2015 I-Squared Bill


TAG Supports: A Compromise on International Tax Reform

 

Important Events

 

TAG Health IT Day
February 24, 2015

More Info

TAG High-Tech Day

February 25, 2015
State Capitol - Empire Room
8:00 AM - 5:00 PM

More Info


TAG FinTech Day

February 26, 2015

More Info

TAG Capitol Contacts


Tino Mantella

President & CEO
Tino@tagonline.org
(404) 920 - 2027


Heather Miner
Vice President, Government Relations & Statewide
Heather@tagonline.org
(404) 920 - 2022


Joseph Santoro
Director of External Affairs
Joseph@tagonline.org
(404) 526 - 6049

 

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