25 LC 50 1047
House Bill 328
By: Representatives Carpenter of the 4
th
, Hilton of the 48
th
, Carson of the 46
th
, Ridley of the
6
th
, Gaines of the 120
th
, and others
A BILL TO BE ENTITLED
AN ACT
To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated,
1
relating to income tax imposition, rate, computation, exemptions, and credits, so as to2
increase the annual aggregate limit for tax credits available for certain contributions to3
student scholarship organizations; to increase the time allowed after being preapproved to4
make the contributions; to provide for related matters; to provide for an effective date and5
applicability; to repeal conflicting laws; and for other purposes.6
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
SECTION 1.8
Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to9
income tax imposition, rate, computation, exemptions, and credits, is amended in Code10
Section 48-7-29.16, relating to tax credits for contributions to student scholarship11
organizations, by revising paragraphs (1), (1.1), and (3) of subsection (f) as follows:12
"(f)(1) The aggregate amount of tax credits allowed under this Code section shall not13
exceed:
14
(A) Fifty-eight million dollars for the year ending on December 31, 2018;15
(B) For 2019 through 2022, $100 million per year; and16
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(C) For 2023 and all subsequent years, $120 $200 million per year.17
(1.1) In no event shall the aggregate amount of tax credits allowed under this Code18
section to all business enterprises for state insurance premium tax liability owed pursuant19
to Code Section 33-8-4 exceed $6 million 6 percent of the aggregate amount of tax20
credits allowed under this Code section for any year as provided in paragraph (1) of this21
subsection."22
"(3) For the purposes of paragraph (1) of this subsection, a student scholarship23
organization shall notify a potential donor of the requirements of this Code section. 24
Before making a contribution to a student scholarship organization, the taxpayer or25
business enterprise shall electronically notify the department, in a manner specified by26
the department, of the total amount of contributions that the taxpayer or business27
enterprise intends to make to the student scholarship organization. The commissioner28
shall preapprove, deny, or prorate the requested amount within 30 days after receiving29
the request from the taxpayer or business enterprise and shall provide notice to the30
taxpayer or business enterprise and the student scholarship organization of such31
preapproval, denial, or proration which shall not require any signed release or notarized32
approval by the taxpayer or business enterprise. In order to receive a tax credit under this33
Code section, the taxpayer or business enterprise shall make the contribution to the34
student scholarship organization within 60 120 days after receiving notice from the35
department that the requested amount was preapproved. If the taxpayer or business36
enterprise does not comply with this paragraph, the commissioner shall not include this37
preapproved contribution amount when calculating the limit prescribed in paragraph (1)38
of this subsection or the additional limitation specific to business enterprises prescribed39
in paragraph (1.1) of this subsection. The department shall establish a web based40
donation approval process to implement this subsection."41
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SECTION 2.
42
This Act shall become effective on July 1, 2025, and shall be applicable to taxable years43
beginning on or after January 1, 2026.44
SECTION 3.45
All laws and parts of laws in conflict with this Act are repealed.46
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