• Any student eligible to enroll in a school in Georgia is eligible
• student scholarship organizations for private school students
  • may distribute scholarships to students over the years the student is enrolled in the private school
  • contributions must be held in accounts under complete control of the organization
• tax credits
  • credits are allowed in the amount actually contributed or up to $1000/year for individuals, $2500 for a married couple filing jointly
  • for individuals who are members of a limited liability company or a shareholder of a Subchapter 'S' corporation, the credit is the amount contributed up to 50% of the state income tax liability from the corporation
  • Corporations may receive a credit for the amount contributed up to 50% of the income tax liability
  • for corporations, credits may be used to offset other tax liabilities such as sale of alcoholic beverages
  • the maximum statewide tax credit is capped at $80 million annually.  The cap may be increased annually thru 2023 based upon a federal index
  • Corporations may not receive more than 25% of the total credits allowed
• Contribution can not be designated for any particular individual
• Student scholarship organizations can not represent or direct a participating school to represent that a taxpayer shall receive a scholarship for the direct benefit of any particular student

EFFECTIVE DATE: For tax years beginning January 1, 2014 if approved by the Governor.