SB 1274
Creates a tax credit for contributions to mentally retarded and developmental type disability care providers
Sponsor:
LR Number:
5386S.01I
Committee:
Last Action:
3/3/2008 - Second Read and Referred S Ways & Means Committee
Journal Page:
S425
Title:
Calendar Position:
Effective Date:
August 28, 2008

Current Bill Summary

SB 1274 - The act creates an income tax credit in an amount equal to fifty percent of the amount of an eligible donation made, on or after January 1, 2009, to a qualifying mentally retarded and developmental type disability care provider. 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 transferable. A provider may apply to the Department of Revenue for the tax credits. The provisions of this act shall automatically sunset six years after the effective date of the act unless reauthorized.

JASON ZAMKUS

Amendments