Out-of-state wire transfer bill being blocked

  HB 66, authored by state Rep. Jeff Jones, R-Brunswick, proposes that wire transfer companies collect a fully refundable fee on out-of-state wire transfers. The fee would be 100 percent reimbursable as a tax credit when an individual files their Georgia income tax. But the legislation’s real aim is to address wire transfers sent out of Georgia by individuals who try to hide their cash and thus foster a huge underground economy. Jones points out that corporate transfers are specifically exempted, as are veterans and others in his retooled HB 66. He believes few law-abiding Georgians would actually be paying these transfer fees. The bill, however, is stalled in the House Ways and Means Committee by Chairman Jay Powell, R-Camilla. Powell tells InsiderAdvantage that he has problems with HB 66 and won’t grant a committee hearing on it. When he pre-filed HB 66, Jones estimated that the legislation could produce $100 million in annual state revenue. Powell disputed that number and notes that the estimate now has been scaled back. “It won’t generate nearly the amount of revenue he thinks,” Powell says. The committee chairman further told InsiderAdvantage that more exemptions have been granted by the author since the bill was introduced and “I don’t know exactly how many exemptions there are now.” Powell questions “the underlying assumptions of the bill,” says he “has his hands full with other bills” and that “there is always next year to address this bill.” D.A. King, president of the Dustin Inman Society and an HB 66 proponent, counters: “The reluctance to allow a hearing on HB 66 seems to be related to...

Georgia Chamber connects on social media

The Georgia Chamber of Commerce is taking accessibility to a new level by hosting a “Chamber Chat’ on Facebook Live.  The session, at 10:00AM this morning, will allow viewers to interact with experts from the Chamber as they discuss pressing local issues including the Opportunity School District and “trends in workforce development.”  A modern way to connect to a modern audience has the Chamber’s ship...

See the February 12th Georgia Gang on Youtube

  On Sunday’s Georgia Gang InsiderAdvantage CEO Phil Kent and company discuss the latest news from around the Peach State, including the bribery scandal at City Hall, evolving casino bills, and Tom Price’s confirmation as Secretary of Health and Human Services....

UGA approves major stadium renovation

With all three Atlanta pro sports teams getting new stadiums or major stadium renovations, the state’s most popular squad was feeling a little left out.  No more though, as this week a $63 million ‘enhancement project’ was announced for the University of Georgia’s Sanford Stadium.  The project includes a new state of the art locker room, as well as a new video board and fan plaza.  As the college football arms race rages on, this major move has UGA’s ship...

Georgia takes home big victory in water wars case

Georgians rejoiced this week when a special master to the U.S. Supreme Court recommended that no water consumption cap be put on Atlanta’s water use from Lake Lanier and the river basin downstream, as Florida had asked for.  The Supreme Court could still make a different ruling and there is likely to be another round of lawsuits, but this win has Georgia’s ship...

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