Bill > HB330

This bill modifies tax credit provisions for two types of nonprofit donations in Georgia: education donations and law enforcement foundation contributions. For education donations, the bill reduces the maximum tax credit from 75% to 30% of a corporation's income tax liability, increases the annual aggregate tax credit limit from $15 million to $20 million, and eliminates the ability to carry forward unused credits to future years. For law enforcement foundation contributions, the bill expands the definition of qualifying foundations to include those supporting law enforcement statewide, increases the annual aggregate tax credit limit to $75 million, extends the program through 2031, and reduces the maximum corporate tax credit from 75% to 30% of income tax liability. The bill also introduces a new provision allowing additional tax credits during the second half of each year, but limiting those credits to 95% of the standard amount. Both donation programs will now require preapproval from the state tax commissioner and have more detailed reporting requirements for the nonprofit foundations. The changes will take effect for tax years beginning January 1, 2026, giving nonprofits and potential donors time to adjust to the new rules.

Budget and Finance

https://www.legis.ga.gov/legislation/70059