ATLANTA, Ga. (Atlanta News First) - Gov. Brian Kemp announced a “major tax policy initiative” at the state Capitol Tuesday afternoon, his office said.

Kemp announced plans for Georgia taxpayers to be issued tax rebates in the coming year.

Modeled after previous rebates, this rebate would result in $1 billion in refunds for Georgia taxpayers. That’s $250 for single tax filers, $375 for filers who are the head of the household and $500 for married couples, Kemp said.

Kemp also said this would be a “one-time move” through the amended budget.

Legislators would have to approve the plan next year, but passage is likely as Republicans are expected to maintain their majorities in the General Assembly, the Associated Press reports.

“This isn‘t the government’s money. It’s yours,” Kemp said. “We all know that even if inflation has fallen, high prices haven’t. Families see that every day when they go to the grocery store or the gas pump.”

The governor also said the measure, like his decision to suspend the state tax on gasoline and diesel fuel, was something he could do to help people in the eastern half of the state who were harmed by Hurricane Helene. Kemp said he and legislative leaders would discuss further hurricane relief efforts, as state leaders unite to push for quick payments, particularly to farmers who may have lost cotton, pecan or other crops.

The governor was joined by Lt. Gov. Burt Jones, Speaker of the House Jon Burns and other members of the General Assembly.

>> WATCH THE FULL ANNOUNCEMENT BELOW:

The announcement came after Kemp signed a series of tax bills to offer residents tax relief in April. House Bill 1015 dropped the state’s income tax from 5.75% to 5.39%, and HB 1021 increased the amount of the dependent exemption (tax credit) in Georgia.

Return to Atlanta News First for updates on this developing story.

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