Georgia § 20-3-285 - Exemption of lenders from certain taxation.
Full text of Georgia Official Code of Georgia Annotated § 20-3-285 — Exemption of lenders from certain taxation., with citation guidance and answers to common questions.
§ 20-3-285. Exemption of lenders from certain taxation.
One-half of the outstanding principal amount of loans guaranteed by the corporation and owned by a lender as of January 1 each year shall be deductible from the assets of the lender when determining the value of shares of the lender, or when determining the net worth of the lender, for purposes of any ad valorem taxation imposed on the lender by the state or by any political subdivision of the state. All income earned by a lender on loans guaranteed by the corporation shall be exempt and free from any type of income tax imposed on the lender by the state or by any political subdivision of the state. It shall be the duty of all revenue and tax officials of the state and of political subdivisions of the state to enforce and give full force and effect to this Code section and to the intent, hereby expressed, of the General Assembly better to assure through this means the accessibility of educational loan funds to local citizens and persons from local lending institutions. (Ga. L. 1964, p. 735, § 11; Ga. L. 1965, p. 217, § 12; Ga. L. 1976, p. 415, § 2; Code 1933, § 32-3328, enacted by Ga. L. 1980, p. 835, § 2.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 20-3-285
What does Official Code of Georgia Annotated § 20-3-285 cover?
Section 20-3-285 ("Exemption of lenders from certain taxation.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 20-3-285?
A common citation format is "Official Code of Georgia Annotated § 20-3-285" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 20-3-285 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.