“Georgia Renaissance Act” is Well-Intentioned, but Costly | Bill Analysis: House Bill 128

Dubbed the Georgia Renaissance Act, House Bill 128 would create $30 million worth of new tax credits aimed at revitalizing local downtowns, making it one of Georgia’s costliest economic development programs. The proposal calls for a mix of tax incentives to entice Georgia businesses and real estate developers to renovate existing buildings or launch new construction projects – both commercial and residential – within clearly defined downtown boundaries. Its stated goals are to make Georgia’s small towns more attractive to private investment and new residents, thereby leading to new job creation and improved quality of life.  Download the bill analysis.