SUMMARY:  LC 33 5739  Raises the cap on the qualified education tax credit from the current $58 million per year to $250 million per year.

POINTS TO CONSIDER:  The qualified education tax credit program provides a method for individuals and corporations to contribute funds to student scholarship organizations and in return, receive a state tax credit for such contributions.  In essence, the program reduces state revenues and provides for scholarships to students attending private schools.

EFFECTIVE DATE:  January 1, 2015 if approved by the General Assembly and Governor.