Georgia’s Education Expense Credit law – since 2008
GA HB 1133 (2008) – Georgia’s QEE (tuition tax credit) law was passed in original form
- Georgia lawmakers passed one of the most free-market tuition tax credit laws in U.S.
- Available credits set at $50 million per year
- Student eligibility required only current enrollment in Georgia public school
- Minimal reporting requirements for SSOs; DOR not allowed to make data public
- SSOs must obligate at least 90% of contributions for scholarships
GA HB 325 (2011)
- Amended the QEE Tax Credit law to:
- Include a CPI escalator on the annual cap (with sunset in 2018)
- Clarify student eligibility
- Require greater transparency and accountability for SSOs
- Impose first-ever maximum annual award limit for individual students
GA HB 283 (2013 - pp. 28-35)
- Amended the QEE Tax Credit law to:
- Raise the annual cap to $58 million
- Require six week public school attendance for eligibility (grade 2 and above)
- Reduce the admin fees which may be charged by SSOs (5% to 10% scale)
- Require SSOs to award scholarships to specific students within one year
- Require SSOs to consider financial needs of students based on all sources
- Prohibit SSO from awarding scholarships to any individual designated by donor
- Prohibit SSO from promising scholarship in exchange for contribution
- Allow a tax credit for up to $10,000 for individuals with ownership in pass through
GA HB 217 (2018)
- Amended the QEE Tax Credit law to:
- Raise the annual cap to $100 million for the next decade
- Moderately reduce the fees which SSOs are allowed to retain
- Clarifiy and improve the SSO scholarship reporting process to DOR
- Require State auditors to evaluate the program in five years to determine its financial and economic impact to the State
Georgia Department of Revenue Rule 560-7-8-.47 relating to the Qualified Education Expense Credit.
GA HB 517 (2022)
- Amended the QEE Tax Credit law to:
- Raise the annual cap to $120 million
- Remove the sunset (roll-back) on the credit cap
- Increase taxpayer contribution limits to $2,500 for single filers, $5,000 for joint filers, and $25,000 for the owners of pass-through businesses
- $6 million of the annual tax credit cap shall be available for use by insurance companies that pay insurance premium tax (rather than income tax)
- Enhances SSO transparency by including recommendations from the Georgia Department of Audits and Accounts