SB 614
Creates an income tax credit for contributions to residential treatment agencies
LR Number:
3603L.03T
Committee:
Last Action:
6/12/2006 - Signed by Governor
Journal Page:
Title:
HCS SCS SB 614
Calendar Position:
Effective Date:
August 28, 2006
House Handler:

Current Bill Summary

HCS/SCS/SB 614 - This transfers oversight of the contributions to centers for victims of domestic violence tax credit program from the department of public safety to the department of social services. The act creates an income tax credit in an amount equal to fifty percent of the amount of an eligible monetary donation made, on or after January 1, 2007, to a qualifying residential treatment agency. The tax credit may not be applied against withholding taxes. The tax credit is non-refundable, but may be carried forward four years. The tax credit is fully transferable. An agency may apply to the Department of Revenue for the tax credits in an aggregate amount that does not exceed forty percent of the payments made by the Department of Social Services to the agency in the preceding twelve months. The provisions of this act shall automatically sunset six years after the effective date of the act unless reauthorized.

JASON ZAMKUS

Amendments