Official Code of Georgia Annotated

Title 20. EDUCATION · Chapter 3. POSTSECONDARY EDUCATION · Article 11. GEORGIA HIGHER EDUCATION SAVINGS PLAN

20-3-631. Purpose.

Active

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

The purposes of this article are to:
(1)
Provide a program or programs of savings trust agreements to apply distributions toward qualified higher education expenses at eligible educational institutions, as defined in Section 529 of the Internal Revenue Code or other applicable federal law;#
(2)
Provide for the creation of the Georgia Higher Education Savings Plan, as an instrumentality of the State of Georgia, to assist qualified students in financing costs of attending institutions of higher education;#
(3)
Encourage timely financial planning for higher education by the creation of savings trust accounts;#
(4)
Provide a savings program for those persons who wish to save to meet postsecondary educational needs, including postgraduate educational needs; and#
(5)
Attract students to institutions of higher education within the state.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 20-3-631, enacted by Ga. L. 2001, p. 76, § 1; Ga. L. 2008, p. 159, § 1/HB 1014.

Pursuant to Code Section 28-9-5, in 2001, Code Section 20-2-631, as enacted by Ga. L. 2001, p. 76, § 1, was redesignated as 20-3-631.

For article, “Wills, Trusts & Administration of Estates,” see 53 Mercer L. Rev. 499 (2001).

U.S. Code.: Section 529 of the Internal Revenue Code, referred to in paragraph (1), is codified in Title 26 of the United States Code.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

Text read from t20-ch3-18-(v17a)-2025-pdf.pdf, Volume V17A, 2025 edition, pages 369 to 370; merge action: bound only; file SHA-256 4560a0cef806.