TAG Capitol Update: May 2015

May 2015

       

 TAG CAPITOL UPDATE          Technology: Where Georgia Leads


Waiting for Governor Deal to Sign HB 439: Invest Georgia & SB 89: Digital Classroom Act

 

Two pieces of legislation TAG supports HB 439 Invest Georgia and SB 89 the Digital Classroom Act are awaiting Governor Deal's signature. The Invest Georgia legislation is a fair and transparent form of venture capital funding for Georgia start-up and growth stage companies. The other piece of legislation, the Digital Classroom Act, provides schools the opportunity to switch from traditional textbooks to digital devices and the other section deals with student data privacy. 

 

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Angel Investor Tax Credit Extension Signed Into Law

 

In 2010 the Georgia General Assembly approved the Angel Investor Tax Credit (HB 1069), but set to expire in 2015. The objective of the income tax credit was to encourage angel investment, a primary source of funding for early stage businesses. Without the Angel Investor Tax Credit, many start-ups will neither survive nor become eligible for the next phase of venture capital funding. Rep. Bruce Williamson (R-Monroe) sponsored HB 237 to extend the Angel Investor Tax Credit. On May 5th, 2015 the Angel Investor Tax Credit was signed into Law by Governor Deal extending the tax credit for another three years. 

 

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Video Game & Digital Production Income Tax Credit Extension Signed Into Law

 

Georgia is an emerging hot spot in the high-tech digital media and interactive entertainment industry and is poised as a global center of excellence. Video game and digital media are significant elements of the creative cluster for Georgia and is growing at a remarkable rate. The Video Game or Digital Production Income Tax Credit was signed into law by Governor Deal on April 30, 2015. The bill extends the video game tax credit until 2019. The bill authorizes a $12.5 million annual cap and the maximum allowable credit claimed per company shall not exceed $1.5 million in any single year.

  

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Film Isn't The Only Industry Boosting Georgia's Economy

 

There has been widespread success stories surrounding Georgia’s growing film industry, but the tech industry is thriving and adding major benefits to Georgia’s economy as well. Approaching the end of the 2015 Legislative Session, the Technology Association of Georgia (TAG) presented the 2015 State of the Industry Report. One of the new interested studies this year calculates the Innovation Index by county and compares it the southeast and nationally. 

 

  

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Public Policy Challenges Linger, but Georgia Is doing Well

 

Kelly McCutchen, President at the Georgia Public Policy Foundation, highlights how Georgia is leading as a state and acknowledges challenges facing the state. As we all know, Georgia is home to worldwide industry-leading businesses like Delta, UPS, Coca-Cola, Home Depot, Aflac, Gulfstream, AGCO, Shaw Industries, Mohawk Industries, Newell Rubbermaid, Flowers Industries, and others. In recent years, Georgia has become a leader in health care information technology, financial technology, information security, video game development, interactive marketing, logistics, communications, and television and film production. 

 

                       

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Reenacting the Trade Promotion Authority

 

Trade Promotion Authority (TPA) for the Executive Branch has been critical to the opening of new markets for American companies and workers.  However, TPA authorization was last enacted in 2002 and lapsed in 2007. By reenacting and updating TPA, Congress can address new issues and challenges to doing business in the global marketplace. TPA is critical to the completion of current trade negotiations, such as the Trans-Pacific Partnership between the United States and Asia-Pacific region, which will remove barriers to increased U.S. international trade. 

  

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In This Issue

State:


Waiting for Governor Deal to Sign HB 439: Invest Georgia & SB 89: Digital Classroom Act

Angel Investor Tax Credit Extension Signed Into Law 

Video Game & Digital Production Income Tax Credit Extension Signed Into Law

Film Isn't the Only Industry Boosting Georgia's Economy


Public Policy Challenges Linger, but Georgia is Doing Well


 Federal:

Reenacting the Trade Promotion Authority

 

TAG Capitol Contacts


Tino Mantella

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


Heather Maxfield
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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