Georgia Code
Article 2 - Authority of Agent
§ 10-6B-56. Gifts

History. Code 1981, § 10-6B-56 , enacted by Ga. L. 2017, p. 435, § 2-1/HB 221; Ga. L. 2018, p. 520, § 18/HB 897.
The 2018 amendment, effective July 1, 2018, substituted the present provisions of subsection (a) for the former provisions, which read: “As used in this Code section, the term a gift ‘for the benefit of’ a person includes a gift to a trust, an account under the Uniform Transfers to Minors Act, and a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code Section 529, 26 U.S.C. Section 529, in effect on February 1, 2017.”; substituted the present provisions of paragraph (b)(1) for the former provisions, which read: “Make outright to, or for the benefit of, a person, a gift of any of the principal’s property, including by the exercise of a presently exercisable general power of appointment held by the principal, in an amount per donee not to exceed the annual dollar limits of the federal gift tax exclusion under Internal Revenue Code Section 2503(b), 26 U.S.C. Section 2503(b), in effect on February 1, 2017, without regard to whether the federal gift tax exclusion applies to the gift, or if the principal’s spouse agrees to consent to a split gift pursuant to Internal Revenue Code Section 2513, 26 U.S.C. Section 2513, in effect on February 1, 2017, in an amount per donee not to exceed twice the annual federal gift tax exclusion limit; and”; and substituted the present provisions of paragraph (b)(2) for the former provisions, which read: “Consent, pursuant to Internal Revenue Code Section 2513, 26 U.S.C. Section 2513, in effect on February 1, 2017, to the splitting of a gift made by the principal’s spouse in an amount per donee not to exceed the aggregate annual gift tax exclusions for both spouses.”
Code Commission notes.
Pursuant to Code Section 28-9-5, in 2018, “a” was deleted following “means a”, a comma was deleted following “Section 529, in effect on February 1,” and a comma was added following “2018” in paragraph (a)(1).

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