Bill > SB446

This bill designates the state revenue commissioner to officially opt Georgia into a federal tax credit program that allows individuals to receive a tax credit for contributing to scholarship granting organizations, which are entities that provide scholarships to students. The bill clarifies that this participation is intended to align with federal law, specifically Section 70411 of Public Law No. 119-21 and related statutes like 26 U.S.C. Section 25F, and that Georgia's initial election to participate was made in January 2026. The state revenue commissioner is required to annually notify the U.S. Secretary of the Treasury of Georgia's participation and provide a list of qualifying scholarship granting organizations in the state, which will be published on the Department of Revenue's website. Furthermore, state agencies are prohibited from creating any rules or regulations that go beyond or contradict the federal guidelines for these tax credits, and the bill makes conforming changes to existing state law regarding tax credits for contributions to student scholarship organizations, specifying that these contributions must be made to organizations operating under the new Article 1 of Chapter 2A of Title 20. This legislation is set to take effect and apply to taxable years beginning on or after January 1, 2027.