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GeorgiaHB 5112025-2026 Regular SessionHouseWALLET

Insurance; deductions from taxable income for contributions by taxpayers to catastrophe savings accounts and interest earned on such accounts; provide

Sponsored By: Shaw Blackmon (Republican), James Burchett (Republican), Matt Hatchett (Republican), Eddie Lumsden (Republican), Brian Prince (Democrat), Noel Williams (Republican)

Became Law

Ways & MeansFinanceGeneral Bill

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Tax breaks for homeowner disaster savings

For tax years starting in 2026, you can deduct Georgia contributions to a catastrophe savings account (CSA). Interest your CSA earns is not taxed by Georgia. Withdrawals are tax-free only for your primary home's catastrophe deductible or uninsured repairs after a covered disaster. If withdrawals exceed qualified expenses, the extra is taxed; account interest also factors into this calculation. If you over-contribute and took a deduction, you must withdraw the excess and count it as income. When the owner dies, the recipient owes tax on the account unless it first goes to a surviving spouse. Annual caps apply: up to $2,000 if your deductible is $1,000 or less; otherwise up to the smaller of twice your deductible or $25,000; if you are self-insured, up to $250,000 but not more than your home's market value. The law takes effect July 1, 2025.

New disaster savings accounts for homes

Georgia creates a catastrophe savings account (CSA) for a primary home. You may open one labeled savings or money market account per primary residence to cover qualified catastrophe expenses. Money can pay only your home insurance deductible or uninsured repairs after a catastrophe. Covered events include hurricanes, tornadoes, floods, earthquakes, ice or hail storms, high winds, and Governor-declared disasters. The Department of Revenue issues rules to run the program starting July 1, 2025.

Sponsors & Cosponsors

Sponsors

  • Shaw Blackmon

    Republican • House

  • James Burchett

    Republican • House

  • Matt Hatchett

    Republican • House

  • Eddie Lumsden

    Republican • House

  • Brian Prince

    Democrat • House

  • Noel Williams

    Republican • House

Cosponsors

  • Larry Walker

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 261 • No: 20

Senate vote • 3/31/2025

PASSAGE

Yes: 54 • No: 0

Senate vote • 3/31/2025

MOTION TO ENGROSS: HB 144, HB 153, HB 511

Yes: 30 • No: 20

House vote • 3/6/2025

PASSAGE

Yes: 177 • No: 0

Actions Timeline

  1. Effective Date

    7/1/2025

  2. House Date Signed by Governor

    5/14/2025House

  3. Act 269

    5/14/2025

  4. House Sent to Governor

    4/7/2025House

  5. Senate Engrossed

    3/31/2025Senate

  6. Senate Tabled

    3/31/2025Senate

  7. Senate Taken from Table

    3/31/2025Senate

  8. Senate Third Read

    3/31/2025Senate

  9. Senate Passed/Adopted

    3/31/2025Senate

  10. Senate Read Second Time

    3/18/2025Senate

  11. Senate Committee Favorably Reported

    3/13/2025Senate

  12. Senate Read and Referred

    3/10/2025Senate

  13. House Committee Favorably Reported By Substitute

    3/6/2025House

  14. House Third Readers

    3/6/2025House

  15. House Passed/Adopted By Substitute

    3/6/2025House

  16. House Second Readers

    2/21/2025House

  17. House First Readers

    2/20/2025House

  18. House Hopper

    2/19/2025House

Bill Text

  • HB 511/AP* (v7)

    PDF

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