HB517: Education; calculation of minimum revenue obligations for scholarships and tuition grants; provide for inclusion of earned interest

Legislative Summary

A BILL to be entitled an Act to amend Chapter 2A of Title 20 of the Official Code of Georgia Annotated, relating to student scholarship organizations, so as to provide for the inclusion of earned interest in the calculation of minimum revenue obligations for scholarships and tuition grants; to require that student scholarship organization audits are conducted in accordance with generally accepted auditing standards; to amend Code Section 48-7-29.16, relating to qualified education tax credits, so as to increase the limit available to individuals, heads of household, married couples filing joint returns, and individuals who are members of certain limited liability companies, shareholders of Subchapter "S" corporations, or partners in a partnership; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.