SB 427:  Georgia Public Education Foundation

SUMMARY:  This bill would amend Chapter 2 of Title 20 of the O.C.G.A. to establish the Georgia Foundation for Public Education.

REQUIREMENTS:

Foundation’s “charitable public purposes and powers:”

• To solicit and accept contributions of all kinds for the state public schools, also to include GA Academy for the Blind, GA School for the Deaf and Atlanta Area School for the Deaf;
• To sell and dispose of contributed properties and securities;
• To disburse contributions to the Department and others [unidentified];
• To contract and to be contracted with for purposes for the foundation;
• To seek tax exempt status from IRS for the organization and to allow deductibility of contributions to the organization;
• To be attached to the DOE with the superintendent being able to solicit and accept contributions, as well as appointing its board of directors of 5-15 members with the SBOE appointing 2 members and 2 more for every 3 appointed by the State School Superintendent;
• At least 2 members appointed by the SBOE would represent the state schools for the blind and deaf;
• The chair of the Budget and Finance Committee of the SBOE would serve as an ex officio member;
• The Attorney General would be the attorney for the foundation;
• Other standard operational procedures as listed in the law.