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HB 1529 - Income tax credit; nonpublic education

Callaway, Gene (81st)	Franklin, Jr., Robert L (39th)

Status Summary	HC:	W&M	SC:		FR:	02/16/00	LA:	02/17/00	H - Read 2nd Time

First Reader Summary

A BILL to amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to imposition, rate, and computation of taxes and exemptions from taxes, so as to provide for a credit against state income tax for the cost of tuition for nonpublic forms of education; and for other purposes.

Code Sections - 48-7-29.3

HB 1529                                            LC 22 3434 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Article 2 of Chapter 7 of Title 48 of the Official 
  1- 2  Code of Georgia Annotated, relating to imposition, rate, and 
  1- 3  computation of taxes and exemptions from taxes, so as to 
  1- 4  provide for a credit against state income tax for the cost 
  1- 5  of tuition for nonpublic forms of education; to provide that 
  1- 6  such credit shall not exceed the amount of tax owed by the 
  1- 7  taxpayer; to provide for applicability and for an effective 
  1- 8  date; to repeal conflicting laws; and for other purposes. 
 
  1- 9       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-10                           SECTION 1. 
 
  1-11  Article 2 of Chapter 7 of Title 48 of the Official Code of 
  1-12  Georgia Annotated, relating to imposition, rate, and 
  1-13  computation of taxes and exemptions from taxes, is amended 
  1-14  by inserting a new Code section to be designated Code 
  1-15  Section 48-7-29.3 to read as follows: 
 
  1-16    "48-7-29.3. 
 
  1-17    A taxpayer shall be allowed a credit against the tax 
  1-18    imposed by Code Section 48-7-20 for the entire cost of 
  1-19    tuition for a child attending any nonpublic form of 
  1-20    education; provided, however, that such credit shall not 
  1-21    exceed the amount of such tax owed by the taxpayer in the 
  1-22    year the credit is claimed." 
 
  1-23                           SECTION 2. 
 
  1-24  This Act shall become effective January 1, 2000, and shall 
  1-25  apply to all taxable years beginning on or after January 1, 
  1-26  2000. 
 
  1-27                           SECTION 3. 
 
  1-28  All laws and parts of laws in conflict with this Act are 
  1-29  repealed. 
 
 
 
 
 
 
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