Two Choices of Government: “In this type of economy, there are two things government can do: stimulate government or stimulate the economy.” -GA House Speaker Pro Tem, Mark Burkhalter.

We all know by now what the federal government decided, but what is the state of Georgia doing? Rep. Tom Graves unveiled a six part business stimulus strategy Wednesday at the State Capitol to help create jobs for Georgians. Officially named the Job Opportunity and Business Success Act for 2009, Graves described the bill as short term, medium, and long term in its scope.

The six provisions in the JOBS Act are contained in two bills, HB 481 and HB 482.

1. $500 credit on unemployment tax to any business who hires someone currently on unemployment compensation for at least 60 days prior.
2. Income tax credit for any business who keeps a previously unemployed employee for 24 months.
3. Business start up holiday, exempting new startups from all state government fees to stimulate entrepreneurship.
4. Eliminate inventory tax on businesses. This requires a referendum, thus the separate bill.
5. Eliminate sales tax deposits, which are prepayments on projected sales.
6. Gradual elimination of corporate tax, beginning in 2012, complete in 2023.

State House Majority Leader Jerry Keene called the JOBS act a “bold and common sense proposal.” State Senator Chip Rogers was also on hand to speak in favor of the proposed program. Representative Graves thanked Americans For Prosperity and a number of other pro-business groups for their support of this legislation.