SB 953 – Raises the fiscal year cap for the Maternity Home Tax Credit from $2 million to $2.5 million

• Sponsor: Nasheed
• LR Number: 6260S.01I
• Committee: Jobs, Economic Development and Local Government
• Last Action: 3/26/2014 - Second Read and Referred S Jobs, Economic Development and Local Government Committee
• Journal Page: S622
• Effective Date: August 28, 2014

Current Bill Summary

SB 953 - Currently, taxpayers may receive a tax credit for donations to maternity homes. The cumulative amount of tax credits that may be issued in a fiscal year is $2 million. This act raises the cap to $2.5 million per fiscal year, beginning with the 2015 fiscal year.

This act is identical to HB 2119 (2014). This act is similar to a provision contained in the perfected version of SCS/HB 1132 (2014) and the perfected version of SCS/SB 638 (2014).

MIKE HAMMANN