As of January 4, 2016, the Georgia qualified education expense credit cap of $58 million for calendar year 2016 already has been reached. All applications received on January 4, 2016 were prorated down to $58 million. The proration percentage is anticipated to be 53.36%. The Department is in the process of mailing pre-approval letters for applications received and denial letters for applications received after the cap had been reached. Taxpayers may begin submitting applications for the 2017 tax year on January 3, 2017.