Coffee Regional Medical Center was recently named the recipient of several generous donations by local banks, FNB South, Colony Bank, and Ameris Bank thanks to the Georgia Rural Hospital Tax Credit program. CRMC would like to extend sincere thanks to each of these banks for taking advantage of this excellent program and naming CRMC as the recipient hospital.
“The Georgia Rural Hospital Tax Credit is allowing the businesses and people of our community to see their tax dollars spent here, at home,” said Vicki Lewis, CEO of Coffee Regional Medical Center. “CRMC will reinvest every dollar that has so generously been donated back into the services and structure of this hospital, benefiting all the citizens of Coffee and surrounding counties. Thank you for helping us Bring it Home.”
The Georgia Rural Hospital Tax Credit program has enabled Georgia businesses and taxpayers to redirect their Georgia income tax liability to help support qualifying hospitals. This tax credit has allowed Georgians to donate $60 million to rural Georgia hospitals, per year. For 2018, that limit was quickly met, capping out by the end of June. Georgia taxpayers who donate to this program receive a direct tax credit from the State of Georgia. This tax credit was recently increased to 100 percent, thanks to HB 769 that Governor Nathan Deal signed May 2 of this year. This increase went into effect on July 1 and will apply to previous donations in 2018. The tax credit was 90 percent before HB 769.
Hospital participation is limited to certain rural, Georgia hospitals that meet criteria established by the law, such as population, acceptance of Medicaid and Medicare, and uncompensated care. There are currently 58 hospitals qualified throughout the state, and one of which is Coffee Regional Medical Center.
If you are interested in taking advantage of this program in 2019, it may be wise to mark your calendars for early 2019 to ensure you are able to take advantage of this exciting opportunity. With funds being depleted by July 1, 2018, it will likely be depleted much earlier in 2019. To find out more, visit us online at www.coffeeregional.org/foundation .