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Tax credits now available for private school scholarships

POSTED: July 17, 2008 5:00 a.m.
ATLANTA - Georgians can now make tax credit-eligible charitable contributions to the Greater Opportunities for Access to Learning program. The GOAL program manages student scholarship organizations, which provide scholarships for students in public schools to attend private schools. This scholarship mechanism is the result of House Bill 1133, which was carried in the Senate by Senator Eric Johnson, R-Savannah.
"Georgia continues to offer more educational choices for children regardless of income," said Johnson. "In addition to school choice measures already available in Georgia, this will be yet another option for parents who are seeking the best education for their child. Thousands of parents now have the opportunity to choose the best educational environment for their child - public, charter, private or home schooling. I applaud the legislature for trusting the parents and the free market to improve education in Georgia."
Georgians can qualify for either a $1,000 (for single filers) or $2,500 (for married couple filing jointly) credit against their 2008 Georgia income tax liability. Georgia "C" corporations can contribute up to 75 percent of their estimated 2008 Georgia income tax liability and receive a credit of equal value. The amount of the credits is capped at $50,000,000 a year.

 

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