GA SB266

Removes the fixed $235,000 maximum account balance cap for Georgia 529 savings trust accounts, replacing it with a flexible limit determined by the board based on current and anticipated education expenses

Increases the state income tax deduction for 529 contributions from $4,000 to $5,000 per beneficiary for single or separate filers, effective for tax years beginning January 1, 2026

Raises the state income tax deduction for joint filers from $8,000 to $10,000 per beneficiary for 529 plan contributions

Takes effect upon approval by the Governor or upon becoming law without such approval