HB1300: HB1300 Georgia Higher Education Savings Plan Act; raise maximum amount of contributions allowed per beneficiary for savings trust accounts

26 LC 61 0517S The House Committee on Higher Education offers the following substitute to HB 1300: A BILL TO BE ENTITLED AN ACT To amend Titles 20, 31, 47, 48, and 50 of the Official Code of Georgia Annotated, relating1 to education, health, retirement and pensions, revenue and taxation, and state government,2 respectively, so as to amend various provisions relating to higher education; to establish the3 DREAMS scholarship; to provide for policies; to provide for eli gibility; to create an4 endowment fund for such scholarship; to provide for reports; to provide for the inclusion of5 advanced fine arts courses in the calculation of grade point averages for determining student6 eligibility for the HOPE scholarships and other scholarships; to provide for an exception; to7 require the possession of opioid antagonists by institutions within the University System of8 Georgia and units within the Technical College System of Georgi a; to provide for9 definitions; to provide for possession of opioid antagonists by certain individuals; to require10 the maintenance of a stock supply of opioid antagonists; to provide for the use and location11 of opioid antagonist storage compartments; to authorize certain personnel to administer12 opioid antagonists and carry opioid antagonists; to provide for immunity; to provide that13 neither civil liability nor professional discipline shall accru e to personnel, the systems, or14 institutions or units thereof; to make conforming changes; to e stablish a scholarship for15 students enrolled medical school; to provide for eligibility; to provide terms and conditions;16 to modify the maximum contribution limit for savings trust acco unts under the Georgia17 Higher Education Savings Plan; to create a deduction from taxab le net income for18 H. B. 1300 (SUB) - 1 - 26 LC 61 0517S contributions to certain qualified tuition programs; to provide for publication of list of19 qualified tuition programs; to provide for automatic repeal; to exclude part-time students20 from membership in the Georgia Defined Contribution Plan; to modify provisions relating21 to the minimum reserve amount of the lottery shortfall reserve; to provide for effective dates22 and applicability; to provide definitions; to provide for related matters; to repeal conflicting23 laws; and for other purposes.24 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:25 PART I26 SECTION 1-1.27 Title 20 of the Official Code of Georgia Annotated, relating to education is amended in28 Part 3 of Article 7 of Chapter 3, relating to the Georgia Student Finance Authority, by adding29 a new subpart to read as follows:30 "Subpart 2B31 20-3-367.32 As used in this subpart, the term:33 (1) 'Academic year,' 'first professional degree program,' 'mat riculated status,' 'quarter34 hours,' and 'semester hours' shall have the same meanings as se t forth in Code35 Section 20-3-519.36 (2) 'Cost of attendance' means the estimate of a student's edu cational expenses as37 calculated by the eligible postsecondary institution at which s uch student is enrolled38 pursuant to Title IV.39 H. B. 1300 (SUB) - 2 - 26 LC 61 0517S (3) 'DREAMS scholarship' or 'scholarship' means the Dedicating Resources to40 Educationally Advance More Students (DREAMS) scholarship provid e d f o r i n t h i s41 subpart.42 (4) 'DREAMS Scholarship Endowment Fund' or 'endowment fund' means the DREAMS43 Scholarship Endowment Fund provided for in Code Section 20-3-367.2.44 (5) 'Eligible postsecondary institution' means:45 (A) An institution of the University System of Georgia; and46 (B) A unit of the Technical College System of Georgia.47 (6) 'Financial aid' means all scholarships and grants awarded to a student, excluding the48 DREAMS scholarship.49 (7) 'Grade point average' means the grade point average calculated by the commission50 for purposes of the HOPE scholarship provided for in Part 7 of this article.51 (8) 'Student aid index' means the student aid index calculated in accordance with52 Title IV.53 (9) 'Title IV' means Title IV of the federal Higher Education Act of 1965, as amended,54 20 U.S.C. Section 1070, et seq.55 (10) 'Unmet financial need' means the amount of the cost of attendance remaining after56 the student aid index and all other financial aid received by the student have been applied.57 20-3-367.1.58 (a) To be eligible for a DREAMS scholarship, a student seeking an undergraduate degree59 at an eligible postsecondary institution shall:60 (1) Meet the requirements provided for in paragraph (1) of sub section (a) and61 subsection (b) of Code Section 20-3-519.1;62 (2) Complete the Free Application for Federal Student Aid (FAFSA);63 (3) Meet enrollment standards by being admitted, enrolled, and classified as an64 undergraduate student in a matriculated status;65 H. B. 1300 (SUB) - 3 - 26 LC 61 0517S (4) Be enrolled for not less than six semester hours, or the equivalent quarter hours, in66 any given semester or quarter;67 (5) Have not yet earned a baccalaureate or first professional degree; and68 (6) Have unmet financial need.69 (b) To maintain eligibility for a scholarship under this subpart, a student shall:70 (1) Continue to meet the eligibility requirements provided for in subsection (a) of this71 Code section; and72 (2) Maintain a minimum 2.0 grade point average and satisfactory academic progress in73 accordance with the standards and practices used for Title IV programs by the institution74 at which such student is enrolled.75 (c) Using moneys from the endowment fund, the authority shall provide scholarships to76 eligible students in accordance with the following conditions:77 (1) The maximum award amount per student per academic year sha ll be $3,000.00;78 provided, however, that no student shall be awarded an amount t hat is more than such79 student's unmet financial need; and80 (2) No student shall receive a scholarship award for more than eight semesters or 1281 quarters.82 (d) Each student who is awarded a scholarship shall:83 (1) Complete a financial literacy course; and84 (2) Be engaged in paid or unpaid work at least part-time, which may include, but shall85 not be limited to, employment, an internship or externship, volunteer work, or military86 service.87 20-3-367.2.88 (a) There is created the DREAMS Scholarship Endowment Fund as a separate fund in the89 state treasury. The endowment fund shall be administered by the authority. Moneys in the90 endowment fund shall be used only as provided for in this subpa rt. All appropriations91 H. B. 1300 (SUB) - 4 - 26 LC 61 0517S made by the General Assembly for the scholarship and all public or private grants, gifts,92 donations, or contributions received for the scholarship shall be credited to the endowment93 fund. Unless specifically designated otherwise, all moneys credited to the endowment fund94 shall be credited to the principal account. All moneys appropr iated or otherwise paid or95 credited to the endowment fund shall be presumptively concluded to have been committed96 to the purpose for which they have been appropriated, paid, or credited and shall not lapse.97 (b) Three separate accounts shall be created within the endowment fund:98 (1) The principal account shall constitute the permanent endowment corpus. Except as99 otherwise provided in this Code section, moneys credited to suc h account shall not be100 appropriated, transferred, expended, encumbered, or otherwise diverted. The authority101 shall determine the minimum amount of moneys needed in the principal account in order102 to produce sufficient funds to sustain scholarship awards;103 (2) The scholarship account shall consist of moneys allocated to such account pursuant104 to the spending policy adopted by the authority. Moneys in such account shall be used105 to provide scholarship awards in accordance with this subpart; and106 (3) The transitional scholarship account shall consist of fund s appropriated for107 scholarship awards during the first two fiscal years of the scholarship. Moneys in such108 account shall be used to provide scholarships in accordance with this subpart.109 (c) The authority shall adopt an investment policy which provi des for the investment of110 moneys in the principal account as a pooled portfolio in accordance with prudent investor111 standards applicable to public trust funds. Such investment policy shall include provisions112 to preserve and grow the long-term value of the principal accou nt while promoting the113 stability and sustainability of scholarship awards.114 (d) In the event of a shortfall in moneys available for scholarship awards compared with115 projected expenditures for scholarship awards over the same period, and if such shortfall116 will have a materially adverse effect on scholarship awards, th e authority shall be117 authorized to adopt an emergency stabilization authorization to allow the distribution or118 H. B. 1300 (SUB) - 5 - 26 LC 61 0517S transfer of moneys from the principal account so as to mitigate any reduction in such119 awards. Such authorization shall:120 (1) Require a two-thirds' majority vote of the board of the authority for adoption;121 (2) Be limited to the minimum amount necessary to mitigate any reduction in awards;122 (3) Not be used to permanently increase award levels;123 (4) Provide for the principal account to be replenished to not less than the minimum124 amount determined by the authority pursuant to paragraph (1) of subsection (b) of this125 Code section; and126 (5) Expire within one year; provided, however, that this shall not prohibit consecutive127 emergency stabilization authorizations.128 (e) The authority shall adopt a spending policy which provides for the allocation of129 earnings to the principal account and to the scholarship accoun t at the end of each fiscal130 year. Such spending policy shall:131 (1) Require that earnings allocated to the principal account s hall be used to grow the132 permanent endowment corpus in accordance with the investment policy; and133 (2) Require that earnings allocated to the scholarship account shall be used to provide134 scholarships in accordance with Code Section 20-3-367.1135 (f) During the first two fiscal years following capitalization of the endowment fund,136 scholarship awards shall be paid from the transitional scholarship account. The transitional137 scholarship account shall terminate at the end of the second fi scal year following138 capitalization of the fund, and any remaining moneys shall be transferred to the principal139 account. In the third fiscal year following capitalization of the fund and each fiscal year140 thereafter, scholarship awards shall be paid from the scholarship account.141 (g) Not later than December 1 of the second fiscal year following capitalization of the fund142 and each fiscal year thereafter, the authority shall prepare an d publish on its website an143 annual report regarding the endowment fund for the immediately preceding fiscal year. 144 Such report shall include the endowment fund's market value, in vestment performance,145 H. B. 1300 (SUB) - 6 - 26 LC 61 0517S scholarship distributions, any distributions or transfers from the principal account, and146 confirmation of compliance with the requirements of this Code s ection and the policies147 adopted pursuant to this Code section.148 20-3-367.3.149 Not later than December 1 each year, the authority shall provide a report on the DREAMS150 scholarship and the endowment fund to the Governor, the Speaker of the House of151 Representatives, the President of the Senate, the chairpersons of the House Committee on152 Higher Education and the Senate Higher Education Committee, the chancellor of the153 University System of Georgia, and the commissioner of the Technical College System of154 Georgia."155 PART II156 SECTION 2-1.157 Said title is further amended in Code Section 20-2-157, relating to uniform reporting system158 for certain purposes, dual credit courses, and academic eligibi lity requirements to receive159 HOPE scholarship, by revising subsection (a.1), paragraph (3.1) of subsection (b), and160 paragraph (3) of subsection (c) as follows:161 "(a.1) As used in this Code section, the term:162 (1) 'Dual 'dual credit course' shall have the same meaning as in Code Section 20-2-161.3.163 (2) 'Advanced fine arts' means an advanced fine arts course that includes a standardized164 end-of-course assessment written and graded by a third party an d for which the165 Department of Education has designated a unique course number a nd name indicating166 that such course is classified as advanced."167 "(3.1) For students otherwise qualified and enrolling in the ninth grade for the first time168 during the 2008-2009 school year and thereafter, the Georgia St udent Finance169 H. B. 1300 (SUB) - 7 - 26 LC 61 0517S Commission shall calculate grade point averages for determining eligibility for the HOPE170 scholarship and other scholarships referenced in this Code section by equating each grade171 for a student in attempted coursework in English, mathematics, science, social studies,172 advanced fine arts, and foreign language during the student's ninth, tenth, eleven th, or173 twelfth grade year to a grade on a 4.0 scale, such that a grade of 'A' = 4.0, a grade of 'B'174 = 3.0, a grade of 'C' = 2.0, a grade of 'D' = 1.0, and a grade of 'F' = 0. Grades for175 coursework that is classified as advanced placement, a dual credit course, or international176 baccalaureate shall be weighted uniformly by the Georgia Student Finance Commission177 in calculating the overall grade point averages for students, provided that the weighting178 of such course grades is uniformly applied to all students in this state taking the specified179 coursework. The sum of the equated grades shall be divided by the number of course180 grades, adjusted for term length, to yield a grade point average on a 4.0 scale; and"181 "(3) The Georgia Student Finance Commission shall calculate a grade point average for182 the purpose of determining eligibility for the HOPE scholarship from these electronic183 transcripts and shall notify students of their potential eligibility and high schools as to the184 potential eligibility of students; provided, however, that the Georgia Student Finance185 Commission shall not include advanced fine arts course grades in the calculation of any186 grade point average for any student who graduated from high school before July 1, 2026."187 PART III188 SECTION 3-1.189 Said title is further amended in Part 2 of Article 2 of Chapter 3, relating to university system,190 by adding a new Code section to read as follows:191 "20-3-88.192 (a) As used in this Code section, the term:193 (1) 'Automated external defibrillator' means a defibrillator which:194 H. B. 1300 (SUB) - 8 - 26 LC 61 0517S (A) Is capable of cardiac rhythm analysis;195 (B) Will charge and be capable of being activated to deliver a countershock after196 electrically detecting the presence of certain cardiac dysrhythmias; and197 (C) Is capable of continuous recording of the cardiac dysrhythmia at the scene with a198 mechanism for transfer and storage or for printing for review subsequent to use.199 (2) 'Community funding source' means local sources of capital provided by local banking200 institutions, including credit unions, community foundations, c ounty or municipal201 governments, businesses, or residents. Such funding sources may include grants, gifts,202 contracts, monetary donations, or loans.203 (3) 'Institution' means any college, school, academy, university, or experiment station at204 any particular location which forms a part of the university system.205 (4) 'Opioid antagonist' shall have the same meaning as set for th in Code206 Section 26-4-116.2.207 (5) 'Opioid antagonist storage compartment' means the structur e in which opioid208 antagonists may be stored.209 (6) 'University system' means the University System of Georgia.210 (b) No student, visitor, or university system employee shall be prohibited from possessing211 an opioid antagonist on university system property or at a univ ersity system sponsored212 activity.213 (c) Subject to available funding from community funding sources, each institution shall214 acquire and maintain a supply of opioid antagonists in any secu r e l o c a t i o n i n s u c h a215 quantity to be used for multiple opioid overdose events; provided, however, that, if there216 occurs a shortage of opioid antagonists, the institution shall make a reasonable effort to217 maintain its supply of opioid antagonists. Any such supply sha ll be maintained in218 accordance with the manufacturer's instructions.219 (d) Subject to available funding from community funding source s, each institution220 maintaining one or more automated external defibrillators shall maintain opioid antagonists221 H. B. 1300 (SUB) - 9 - 26 LC 61 0517S in an opioid antagonist storage compartment which shall be loca ted within three feet of222 such defibrillators or as close as space reasonably allows.223 (e) Any university system personnel may administer an opioid a ntagonist to any person224 who the university system personnel believes in good faith to b e experiencing an opioid225 overdose:226 (1) While at an institution;227 (2) While at a university system sponsored activity;228 (3) While under the supervision of university system personnel; or229 (4) Before or after normal institution activities.230 (f) Any university system personnel who in good faith administ ers or chooses not to231 administer an opioid antagonist shall be immune from civil liab ility or professional232 discipline for any act or omission to act related to the admini stration of an opioid233 antagonist, except that such immunity shall not apply to an act of willful or wanton234 misconduct.235 (g) Neither civil liability nor professional discipline shall accrue to university system236 personnel and no civil liability shall accrue to the university system or to any institution of237 such system due to the removal or misuse of an opioid antagonist or antagonists; provided,238 however, that immunity shall not apply to an act of willful or wanton misconduct."239 SECTION 3-2.240 Said title is further amended in Article 2 of Chapter 4, relati ng to technical and adult241 education, by adding a new Code section to read as follows:242 "20-4-39.1.243 (a) As used in this Code section, the term:244 (1) 'Automated external defibrillator' means a defibrillator which:245 (A) Is capable of cardiac rhythm analysis;246 H. B. 1300 (SUB) - 10 - 26 LC 61 0517S (B) Will charge and be capable of being activated to deliver a countershock after 247 electrically detecting the presence of certain cardiac dysrhythmias; and248 (C) Is capable of continuous recording of the cardiac dysrhythmia at the scene with a249 mechanism for transfer and storage or for printing for review subsequent to use.250 (2) 'Community funding source' means local sources of capital provided by local banking251 institutions, including credit unions, community foundations, c ounty or municipal252 governments, businesses, or residents. Such funding sources may include grants, gifts,253 contracts, monetary donations, or loans.254 (3) 'Opioid antagonist' shall have the same meaning as set for th in Code255 Section 26-4-116.2.256 (4) 'Opioid antagonist storage compartment' means the structur e in which opioid257 antagonist may be stored.258 (5) 'Technical college system' means the Technical College System of Georgia.259 (6) 'Unit' means any institution, college, school, academy, or experiment station at any260 particular location which forms a part of the technical college system.261 (b) No student, visitor, or technical college system employee shall be prohibited from262 possessing an opioid antagonist on technical college system pro perty or at a technical263 college system sponsored activity.264 (c) Subject to available funding from community funding sources, each unit shall acquire265 and maintain a supply of opioid antagonists in any secure location in such a quantity to be266 used for multiple opioid overdose events; provided, however, th at, if there occurs a267 shortage of opioid antagonists, the unit shall make a reasonable effort to maintain its supply268 of opioid antagonists. Any such supply shall be maintained in accordance with the269 manufacturer's instructions.270 (d) Subject to available funding from community funding sources, each unit maintaining271 one or more automated external defibrillators shall maintain opioid antagonists in an opioid272 H. B. 1300 (SUB) - 11 - 26 LC 61 0517S antagonist storage compartment which shall be located within th ree feet of such273 defibrillators or as close as space reasonably allows.274 (e) Any technical college system personnel may administer an o pioid antagonist to any275 person who the technical college system personnel believes in g ood faith to be276 experiencing an opioid overdose:277 (1) While at a unit;278 (2) While at a technical college system sponsored activity;279 (3) While under the supervision of technical college system personnel; or280 (4) Before or after normal unit activities.281 (f) Any technical college system personnel who in good faith administers or chooses not282 to administer an opioid antagonist pursuant to this Code section shall be immune from civil283 liability or professional discipline for any act or omission to act related to the284 administration of an opioid antagonist, except that such immunity shall not apply to an act285 of willful or wanton misconduct.286 (g) Neither civil liability nor professional discipline shall accrue to technical college287 system personnel and no civil liability shall accrue to the technical college system or any288 unit of such system due to the removal or misuse of an opioid a ntagonist or antagonists;289 provided, however, that immunity shall not apply to an act of w illful or wanton290 misconduct."291 SECTION 3-3.292 Title 31 of the Official Code of Georgia Annotated, relating to health, is amended in Code293 Section 31-2A-20, relating to accessibility to opioid antagonists in government buildings and294 courthouses, guidelines and training, and limitations on liability, by revising subsection (a)295 as follows:296 "(a) As used in this Code section, the term:297 H. B. 1300 (SUB) - 12 - 26 LC 61 0517S (1) 'Automated external defibrillator' shall have the same meaning as set forth in Code298 Section 31-11-53.1.299 (2) 'Courthouse' means a building occupied by judicial courts and containing rooms in300 which judicial proceedings are held, provided that such building contains an automated301 external defibrillator.302 (3) 'Government entity' means any state board, commission, agency, or department, or303 the governing authority of any county, municipality, or consoli dated government, but304 such term shall not include local school systems, public school s, charter schools, or305 university buildings the University System of Georgia, or the Technical College System306 of Georgia.307 (4) 'Opioid antagonist' shall have the same meaning as set for th in Code308 Section 26-4-116.2.309 (5) 'Opioid related overdose' shall have the same meaning as s et forth in Code310 Section 26-4-116.2.311 (6) 'Qualified government building' means a building in which a government entity is312 housed or meets in its official capacity, including the portion occupied by a government313 entity of any building that is not publicly owned, provided that such building contains an314 automated external defibrillator, but such term shall not include a university building.315 (7) 'University building' means any building which forms a part of the University System316 of Georgia, including any college or university under the gover nment, control, and317 management of the Board of Regents of the University System of Georgia, or any318 building under the control of the State Board of the Technical College System of319 Georgia."320 H. B. 1300 (SUB) - 13 - 26 LC 61 0517S PART IV321 SECTION 4-1.322 Title 20 of the Official Code of Georgia Annotated, relating to education, is amended in323 Part 6 of Article 7 of Chapter 3, relating to medical scholarships, by designating the existing324 provisions of said part as Subpart 2, by replacing "this part" and "This part" with "this325 subpart" and "This subpart", respectively, everywhere such terms occur in the new Subpart 2,326 and by adding a new subpart to read as follows:327 "Subpart 1328 20-3-505.329 As used in this subpart, the term:330 (1) 'Academic year' and 'full-time' shall have the same meanin gs as set forth in Code331 Section 20-3-519.332 (2) 'Applicant' means an individual who applies for a scholarship under this subpart.333 (3) 'Authority' means the Georgia Student Finance Authority.334 (4) 'Cost of attendance' means the estimate of a student's edu cational expenses as335 calculated by the eligible postsecondary institution at which s uch student is enrolled336 pursuant to Title IV.337 (5) 'Eligible applicant' means an applicant who meets the eligibility criteria provided for338 in this subpart.339 (6) 'Eligible medical school' means a medical school in the Un iversity System of340 Georgia.341 (7) 'Scholarship' means a scholarship provided for in this subpart.342 (8) 'Title IV' means Title IV of the federal Higher Education Act of 1965, as amended,343 20 U.S.C. Section 1070, et seq.344 H. B. 1300 (SUB) - 14 - 26 LC 61 0517S 20-3-506.345 (a) To be eligible for a scholarship under this subpart, an ap plicant seeking a medical346 degree at an eligible medical school shall:347 (1) Meet the requirements provided for in paragraph (1) of sub section (a) and348 subsection (b) of Code Section 20-3-519.1;349 (2) Complete the Free Application for Federal Student Aid (FAFSA);350 (3) Meet enrollment standards by being enrolled full-time in an eligible medical school351 and making satisfactory academic progress in accordance with the standards and practices352 used for Title IV programs by the medical school at which such student is enrolled;353 (4) Have not yet earned a medical degree; and354 (5) Submit an application for such scholarship.355 (b) Subject to appropriations, the authority shall award scholarships to eligible applicants356 in accordance with the following terms and conditions:357 (1) The maximum award amount per applicant per academic year shall not exceed such358 student's cost of attendance;359 (2) No applicant shall receive a scholarship award for more than eight semesters; and360 (3) Each scholarship awarded pursuant to this subpart shall be conditional upon the361 applicant agreeing that the full amount of the scholarship shall be repaid to the State of362 Georgia in services to be rendered by such applicant by practicing medicine in this state363 for not less than four years after graduation from an eligible medical school.364 (c) Before being awarded a scholarship, each eligible applicant shall enter into a contract365 with the authority agreeing to the terms and conditions upon wh ich such scholarship is366 granted, including such terms and conditions as set forth in th is subpart. Each such367 contract shall provide that, in the event such recipient does n ot complete medical school368 and fails to receive a medical degree, fails to obtain licensure from the Georgia Composite369 Medical Board to practice medicine, or fails to practice medicine in this state in accordance370 with the requirements of this subpart, the recipient shall repa y any and all scholarship371 H. B. 1300 (SUB) - 15 - 26 LC 61 0517S awards received pursuant to this subpart; provided, however that for each year of practicing372 medicine in this state, such applicant shall receive credit for the amount of the scholarship373 received during any one year in an eligible medical school."374 PART V375 SECTION 5-1.376 Said title is further amended in Code Section 20-3-634, relatin g to savings trust accounts,377 availability, and terms and provisions relative to the Georgia Higher Education Savings Plan,378 by revising paragraph (1) of subsection (b) as follows:379 "(1) The maximum and minimum contribution allowed on behalf of each beneficiary for380 the payment of qualified higher education expenses at eligible institutions as defined in381 Section 529 of the Internal Revenue Code of 1986 or other appli cable federal law;382 provided, however, that no additional contributions may be made to a savings trust383 account when the total account balance for all accounts for the beneficiary equals or384 exceeds $235,000.00 $550,000.00;"385 SECTION 5-2.386 Title 48 of the Official Code of Georgia Annotated, relating to revenue and taxation, is387 amended in Code Section 48-7-27, relating to computation of taxable net income, by adding388 a new paragraph to subsection (a) to read as follows:389 "(11.5)(A)(i) As used in this paragraph, the term 'qualified tuition program' means a390 qualified tuition program established and maintained by a state or agency or391 instrumentality thereof which is exempt from taxation pursuant to Section 529 of the392 Internal Revenue Code of 1986, other than the qualified tuition program established393 pursuant to Article 11 of Chapter 3 of Title 20. Such term sha ll not include a394 qualified tuition program established or maintained by another state or agency or395 H. B. 1300 (SUB) - 16 - 26 LC 61 0517S instrumentality thereof unless such state grants an income tax deduction or tax credit396 similar to the deduction provided for in this paragraph or in p aragraph (11.1) for397 contributions made to the qualified tuition program established pursuant to Article 11398 of Chapter 3 of Title 20.399 (ii) The department shall annually publish a list of qualified tuition programs on its400 website.401 (B) For taxable years beginning on or after January 1, 2026, and ending on or before402 December 31, 2031, an amount equal to the amount of contributio ns to a qualified403 tuition program, but not exceeding $2,000.00 per beneficiary;404 (C) If the contributor files a separate return or single return, the sum of contributions405 constituting deductions on the contributor's return under this paragraph shall not406 exceed $4,000.00 per beneficiary; provided, however, that the s um of contributions407 constituting deductions on such contributor's return under this paragraph and408 paragraph (11.1) shall not exceed $4,000.00 per beneficiary;409 (D) If the contributor files a joint return, the sum of contri butions constituting410 deductions on the contributor's return under this paragraph shall not exceed $4,000.00411 per beneficiary; provided, however, that the sum of contributio ns constituting412 deductions on such contributor's return under this paragraph and paragraph (11.1) shall413 not exceed $8,000.00 per beneficiary;414 (E) For purposes of this paragraph, contributions or payments for any such taxable year415 may be made during or after such taxable year but on or before the deadline for making416 contributions to an individual retirement account under federal law for such taxable417 year; and418 (F) This paragraph shall stand repealed on January 1, 2031."419 H. B. 1300 (SUB) - 17 - 26 LC 61 0517S PART VI420 SECTION 6-1.421 Title 47 of the Official Code of Georgia Annotated, relating to retirement and pensions, is422 amended by revising Code Section 47-22-1, relating to definitio ns regarding the Georgia423 Defined Contribution Plan, as follows:424 "47-22-1.425 As used in this chapter, the term:426 (1) 'Accumulated contributions' means the sum of all amounts d educted from the427 compensation of a member's salary and credited to such member's individual account in428 this plan, together with earnings thereon as provided in this chapter.429 (2) 'Board' means the Board of Trustees of the Employees' Reti rement System of430 Georgia.431 (3) 'Defined contribution plan' means a plan which provides fo r an individual account432 for each participant and for benefits based solely on the amoun t contributed to the433 participant's account; any income, expenses, gains, and losses; and any forfeiture of434 accounts of other participants which may be allocated to such participant's account, which435 plan is intended to be qualified under Section 401(a) of the In ternal Revenue Code, 42436 U.S.C. Section 401(a).437 (4) 'Employee' means any employee of an employer who is not a member of any public438 retirement or pension system created pursuant to this title; pr ovided, however, that the439 following persons shall not be considered employees under this paragraph:440 (A) A person performing servi ces for an institution in which s uch person is duly441 enrolled as a part-time or full-time student;442 (B) A person performing services for an employer pursuant to a contract as a bona fide443 independent contractor; or444 (C) Members of any state board or commission.445 H. B. 1300 (SUB) - 18 - 26 LC 61 0517S (5) 'Employer' means the state or any department, bureau, inst itution, board, or446 commission of the state, the State Board of Education, and the Board of Regents of the447 University System of Georgia.448 (6) 'Member' means any employee included in the membership of the plan.449 (7) 'Plan' means the Georgia Defined Contribution Plan created by this chapter.450 (8) 'Plan year' means the 12 month period beginning July 1 of each year."451 PART VII452 SECTION 7-1.453 Title 50 of the Official Code of Georgia Annotated, relating to state government, is amended454 in Code Section 50-27-13, relating to disposition of lottery pr oceeds, budget report by455 Governor, appropriations by General Assembly, and shortfall reserve subaccount, by revising456 paragraph (3) of subsection (b) as follows:457 "(3)(A) As used in this paragraph, the term 'base lottery spend ' means expenditures458 from lottery proceeds for voluntary pre-kindergarten and for tu ition grants,459 scholarships, or loans to citizens of this state to enable such citizens of this state to460 attend colleges and universities located within this state, reg ardless of whether such461 colleges and universities are owned or operated by the board of regents or to attend462 institutions operated under the authority of the Technical College System of Georgia. 463 Such term shall not include expenditures from excess reserve fu nds required to be464 appropriated for educational purposes and programs pursuant to subparagraph (B) of465 this paragraph.466 (B) A Beginning in Fiscal Year 2025, a shortfall reserve shall be maintained within the467 Lottery for Education Account in an amount equal to at least 50 percent of the average468 amount of net proceeds deposited into or base lottery spend from such account for the469 preceding three fiscal years, whichever is greater, hereinafter referred to as the470 H. B. 1300 (SUB) - 19 - 26 LC 61 0517S minimum reserve. Beginning in Fiscal Year 2025 and for each fiscal year thereafter,471 if on the last day of the preceding fiscal year the total reserve fund balance exceeds the472 minimum reserve, an amount equal to 10 percent of the excess reserve funds, meaning473 the amount that the total reserve fund balance exceeds the minimum reserve, shall be474 appropriated for educational purposes and programs.475 (B)(C) If the net proceeds paid into the Lottery for Education Account in any year are476 not sufficient to meet the amount appropriated for educational purposes and programs,477 the shortfall reserve may be drawn upon to meet the deficiency and any amount so478 drawn may count for purposes of appropriations in subparagraph (A) ( B ) of this479 paragraph.480 (C)(D) If the shortfall reserve is drawn upon and falls below 50 percent of the average481 amount of net proceeds deposited into or base lottery spend from such account for the482 preceding three fiscal years, whichever is greater, the shortfall reserve shall be483 replenished to the level required by subparagraph (A) (B) of this paragraph in the next484 fiscal year and the lottery funded programs shall be reviewed and adjusted accordingly."485 PART VIII486 SECTION 8-1.487 (a) Except as otherwise provided in this section, this Act sha ll become effective on488 July 1, 2026.489 (b) Part V of this Act shall become effective upon its approval by the Governor or upon its490 becoming law without such approval.491 (c) Parts I and IV of this Act shall apply to all academic years beginning with the 2026-2027492 academic year.493 (d) Part VII of this Act shall apply to all fiscal years beginning in Fiscal Year 2027.494 H. B. 1300 (SUB) - 20 - 26 LC 61 0517S PART IX495 SECTION 9-1.496 All laws and parts of laws in conflict with this Act are repealed.497 H. B. 1300 (SUB) - 21 -