The Act extends the annual revenue received by student scholarship organizations to include interest earned on deposits and investments of scholarship funds or tuition grants. The Act expands the scope of auditing that student scholarship organizations are subjected to and compels the organizations to submit Form 990 to the Department of Revenue. Further, the Act allows certain insurance companies to partake in the tax program and increases the tax credit available to participating taxpayers. Lastly, the Act increases the aggregate amount of tax credits allowed per year to $120 million.
Olivia D. Pounds & Samantha A. Masters,
HB 517: Amendments Relating to Student Scholarship Organizations,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol39/iss1/16