PDF: Jobs bill PDF: Failed version JOBS bill* Gives employers tax credits for hiring previously unemployed individuals, pending approval from the tax commissioner* Cuts corporate net worth taxes by 25 percent, depending on reserve fund levels* Gives tax credit incentives to investors in businesses* Eliminates corporate net worth taxes in 2012
By Ashley Speagle
Correspondent
ATLANTA — Georgia senators on Thursday passed a package of tax credits and reductions they said would create jobs and stimulate the economy, but which a legislative analyst called a “fiscally irresponsible” giveaway to the state’s wealthiest.
The Senate voted 33-13 for the House version of the Jobs, Opportunity and Business Success Act. The bill includes tax credits for hiring people off unemployment rolls, eliminates corporate net worth taxes and would cut capital gains taxes by 25 percent when the state’s reserve fund reaches $1 billion.