SB 662
Modifies provisions relating to a tax credit for contributions to certain child advocacy organizations
Sponsor:
LR Number:
2500S.02I
Last Action:
4/6/2023 - Second Read and Referred S Economic Development and Tax Policy Committee
Journal Page:
Title:
Effective Date:
August 28, 2023

Current Bill Summary

SB 662 - Current law authorizes a tax credit for contributions made to CASAs, child advocacy centers, and crisis care centers, as such terms are defined in the act, with such tax credit equal to fifty percent of the contribution. For all tax years beginning on or after January 1, 2023, this act increases the tax credit to seventy percent of the contribution.

Additionally, the current maximum amount of tax credits that may be authorized for contributions made to qualified agencies shall not exceed $1.5 million. For all fiscal years beginning on or after July 1, 2023, this act provides that the amount of tax credits that may be authorized by the act in a fiscal year shall not be limited.

This act changes the sunset date from December 31, 2025, to December 31, 2029, unless reauthorized by the General Assembly.

This act is identical to HB 1343 (2023).

JOSH NORBERG

Amendments

No Amendments Found.