Tax credits for private schools program exceeds cap again

The state tax credit program that lets people steer public money to private schools maxed out quickly again this year.

As happened last year, the $58 million cap on the tuition tax credit scholarship program was reached in one day, this time on Jan. 4, the first business day of the year, the Georgia Department of Revenue reported Monday.

Taxpayers can pledge money — up to $1,000 for an individual, $2,500 per married couple and many thousands of dollars for members of certain business entities — to specific schools and get a matching tax credit from the state.

Because applications exceeded the cap, each contribution likely will be prorated at 53.36 percent.

Gov. Nathan Deal’s Education Reform Commission, which issued recommendations in December, considered and ultimately rejected requests to expand the program because of concerns about the cost and the ongoing “austerity” cuts to the education budget.

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