Georgia Rural Hospital Tax Credit reaches 2021 limit, set to reopen 2022
During Monday night’s Special Called meeting, Stephens County Hospital Foundation Director Pamela Jones announced to the Stephens County Hospital Authority Board that the Georgia Rural Hospital Tax Credit Program has allocated all allotted funds for the 2021 calendar year.
As WNEG News has been reporting, the Georgia Rural Hospital Tax Credit Program allows Georgia taxpayers to receive 100 percent state tax credit when they contribute to designated rural hospitals in Georgia.
Because this is a tax credit, the contribution is applied directly against the amount the taxpayer owes in state tax.
Jones says potential donors can start the application process for the 2022 calendar year on November 1, 2021.
“I received an email last Thursday night that the tax credit has capped out. So, there are no more tax funds available for 2021; however, Georgia Heart is going to start that campaign November the first, so, people who want to participate in that program in 2022 can go ahead and put their application in starting November 1. It’s a first come, first serve basis, so they’ll start inputting those applications January 1, 2022,” she said.
Jones says anyone interested in taking advantage of this dollar-for-dollar match in 2022 can contact her by calling 706-282-4254 or via email at [email protected].
Each year, the state of Georgia allows up to $60 million in tax credit through the program. Once that amount is reached, no more donations made will receive the tax credit until the following year.
According to the Georgia Department of Community Health’s Rural Hospital Tax Credit 2021 Ranking of Financial Need, Stephens County is ranked 14th out of 55 rural hospitals.
The Georgia Rural Hospital Tax Credit Program is designed to provide vital funding for rural hospitals in Georgia, many of which are facing major financial challenges.
For more information about the Rural Tax Credit contact Jones at 706-282-4254 or via email at [email protected].