HB 1132 Modifies provisions relating to certain benevolent tax credits

     Handler: Romine

Current Bill Summary

- Prepared by Senate Research -


SCS/HB 1132 - 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 also prohibits issuance of the tax credit after June 30, 2020. This provision is similar to SB 953 (2014) and HB 2119 (2014) and to a provision in SCS/SB 638 (2014). (Section 135.600)

Taxpayers that make donations to a pregnancy resource center may be eligible for an income tax credit. Currently, the amount of tax credits that may be issued in a fiscal year is limited to $2 million. This act raises the cap to $2.5 million, beginning with the 2015 fiscal year. This provision is identical to SB 638 (2014). (Section 135.630)

Under current law, taxpayers that make donations to food pantries may be eligible for an income tax credit. The amount of food pantry tax credits that may be issued in a fiscal year is limited to $1.25 million. This act raises the cap to $1.75 million, beginning with the 2015 fiscal year. This provision is similar to SB 647 (2014) and a provision contained in SCS/SB 638 (2014). (Section 135.647)

MIKE HAMMANN


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