Last week, Georgia Gov. Sonny Perdue signed into law a $50 million corporate and individual tax-credit scholarship program. The new program is part of a growing trend for school choice now showing signs of life in California.
The Georgia scholarship program allows corporations to receive a 100 percent tax credit, up to 75 percent of their total state tax liability, for donations to 501(c)(3), nonprofit charitable Student Scholarship Organizations (SSOs) that award private school scholarships. Individuals can also donate up to $1,000 ($2,500 for married couples) to SSOs and receive a 100 percent credit against their state income taxes. An estimated 10,000 Georgia school children will benefit. (more…)