Creating a private investigator tax credit available against the individual income tax, and including effective date and retroactive applicability provisions

This bill creates a private investigator tax credit available against the individual income tax. The bill defines “private investigator” to mean a licensee or an employee of a licensee under Code chapter 80A other than a bail enforcement business. The amount of the credit shall equal percent of the first $1,000 of the investigation fees paid by the taxpayer to a private investigator to investigate a cold case which has been reported to a law enforcement agency within the previous months. A taxpayer is eligible to claim the credit one time per cold case up to the maximum credit allowed under the bill. The bill defines “cold case” to mean an investigative case involving a missing family member after the initial investigation into the disappearance of the missing family member by a law enforcement agency has been completed, or the family member was reported missing to a law enforcement agency and the family member is still missing after days, whichever is earlier. The bill takes effect upon enactment and applies retroactively to January 1, 2021, for tax years beginning on or after that date.