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GA HB1300
GA HB1300Georgia Higher Education Savings Plan Act; raise maximum amount of contributions allowed per beneficiary for savings trust accounts
summary
Introduced
02/12/2026
02/12/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Code Section 20-3-634 of the Official Code of Georgia Annotated, relating to savings trust accounts, availability, and terms and provisions under the "Georgia Higher Education Savings Plan Act," so as to raise the maximum amount of contributions allowed per beneficiary for savings trust accounts for higher education expenses; to provide for an effective date; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill, amending the "Georgia Higher Education Savings Plan Act," significantly increases the maximum amount that can be contributed to a savings trust account for a beneficiary's higher education expenses, raising it from $235,000 to $550,000. This plan, governed by Section 529 of the Internal Revenue Code, allows individuals to save for qualified higher education costs at eligible institutions, and this change means families can now save a substantially larger sum for future educational needs within this tax-advantaged account. The bill also specifies that no further contributions can be made once the total balance for a beneficiary reaches this new, higher cap, and it will become effective upon approval by the Governor or becoming law without approval.
Committee Categories
Education
Sponsors (6)
Matt Barton (R)*,
Beth Camp (R)*,
Jan Jones (R)*,
Trey Kelley (R)*,
Carmen Rice (R)*,
Devan Seabaugh (R)*,
Last Action
House Second Readers (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/73177 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/242525 |
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