Georgia lawmakers consider giving cryptocurrencies miners tax breaks in new bill
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| Georgia lawmakers consider giving cryptocurrency miners tax breaks in new bill |
Five members of the Georgia House of Representatives have introduced a bill that would exempt local crypto miners from paying sales and use tax.
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On Monday, Georgia representatives Don Parsons, Todd Jones, Katie Dempsey, Heath Clark and Casey Carpenter introduced House Bill 1342, an as-yet-unnamed bill. The legislation proposes amending the state tax code to “exempt the sale or use of electricity used in commercial mining of digital assets” and is likely to apply only to commercial miners working at a facility of at least 75,000 square feet — approximately 6,968 square metres.
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The proposed bill is the latest in a series of statewide measures aimed at encouraging crypto miners to set up their businesses. In January, Illinois lawmakers introduced a bill that would extend tax incentives to crypto-mining data centers. Kentucky also proposed similar legislation in March 2021.
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