Atlanta, GA (AP) - A two-year-old tax provision that allows
Georgians to make donations to private schools in exchange for tax
credits is putting millions of dollars into scholarship programs.
Westminster Schools, Woodward, Pace, Paideia and other schools
say the program adds hundreds of thousands of dollars to their
financial aid programs.
The program provides a dollar-for-dollar tax credit to people or
corporations who donate to scholarship funds earmarked for use by a
specific school. The school then uses the money to offer tuition
aid to a public school student seeking to transfer.
The credit is a maximum $1,000 per individual and $2,500 per
Donations are capped at $50 million annually, and in 2009
totaled about $25 million. Officials expect that figure will rise
to between $35 to $40 million this year.
Information from: The Atlanta Journal-Constitution,
(Copyright 2010 by The Associated Press. All Rights Reserved.)