Loading chat...

GA HB835

Bill

Official Source

Status

Introduced

1/25/2016

Primary Sponsor

Carlton Rogers

Click for details

Origin

House of Representatives

2015-2016 Regular Session

AI Summary

  • Georgia individual income tax return forms must include an option for taxpayers to make voluntary contributions to a Georgia Higher Education Savings Plan (529 plan), beginning with taxable years on or after January 1, 2017
  • Taxpayers may contribute all or any part of their tax refund or authorize a reduction in their refund check to fund the contribution
  • Taxpayers designating a contribution authorize the Department of Revenue to share necessary personal information with the Georgia Student Finance Commission to process the contribution, overriding existing taxpayer confidentiality provisions
  • The Department of Revenue is required to calculate total contributions and transmit funds to the specific Georgia Higher Education Savings Plan designated by the taxpayer
  • The Department of Revenue is granted authority to establish procedures, adopt rules and regulations, and modify or create forms to implement the program

Legislative Description

Income tax; certain voluntary contributions to a Georgia Higher Education

Last Action

House Second Readers

1/27/2016

Full Bill Text

No bill text available