Georgia Gov. Brian Kemp announced Monday that the first of a projected $1 billion of state income tax refunds have been issued.
The plan, approved overwhelmingly by the General Assembly under House Bill 162, gives a refund of up to $250 to single filers, up to $375 to single adults who head a household with dependents and up to $500 to married couples filing jointly.
It’s the second year in a row that lawmakers have approved Kemp’s request to issue income tax refunds, a move made possible because Georgia ended its last budget year with $6.6 billion in surplus revenue in the bank. That’s in addition to the state’s rainy day fund, filled to its legal limit of $5.2 billion.
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