House Bill Summary

HCS/HB 1581 - This act authorizes an income tax credit for donations of cash or food to any local food pantry. The amount of the tax credit will be equal to fifty percent of the value of the donation and cannot exceed $2,500 per taxpayer. The cumulative amount of tax credits that can be issued to all taxpayers will be $2 million per year. The Director of the Department of Revenue will establish the procedure for the allotment of the tax credits so that all eligible taxpayers will receive a share of the credits available for the fiscal year. The provisions of the substitute will expire four years from the effective date unless re-authorized.

JASON ZAMKUS