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GA HB565

Bill

Official Source

Status

Introduced

2/20/2025

Primary Sponsor

Rick Townsend

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Increases the annual aggregate cap on tax credits for donations to nonprofit corporations that award grants to public schools from $15 million to $25 million per calendar year

  • Replaces the previous tiered structure ($5 million for 2023, $15 million for 2024 and beyond) with a single flat $25 million annual limit

  • Amends Code Section 48-7-29.21 of the Official Code of Georgia Annotated relating to income tax credits

  • Effective date of July 1, 2026, applicable to all taxable years beginning on or after January 1, 2026

Legislative Description

Income tax; increase annual aggregate limit for tax credits available for qualified education donations

Last Action

House Committee Favorably Reported By Substitute

2/24/2026

Committee Referrals

Ways and Means2/21/2025

Full Bill Text

No bill text available