SB 434
Authorizes a tax credit for providing services to homeless persons
Sponsor:
LR Number:
0255S.01I
Last Action:
3/2/2023 - Second Read and Referred S Governmental Accountability Committee
Journal Page:
Title:
Effective Date:
August 28, 2023

Current Bill Summary

SB 434 - For all tax years beginning on or after January 1, 2024, this act allows eligible taxpayers to receive a tax credit for providing certain services to homeless persons. An eligible taxpayer is defined as a qualified provider of employment services to homeless persons, a qualified provider of employment to homeless persons, or a qualified provider of housing to homeless persons. The amount of the tax credit shall not exceed $10,000 per tax year, and the total amount of tax credits authorized under the act per fiscal year shall not exceed $1 million.

The Department of Economic Development shall publish guidelines for determining who is a qualified provider of employment services, employment, or housing to homeless persons, as described in the act.

This act shall sunset on December 31, 2029, unless reauthorized by the General Assembly.

This act is identical to SB 1196 (2022) and is substantially similar to HB 1587 (2020) and to a provision in HCS/SS/SCS/SB 570 (2020).

JOSH NORBERG

Amendments

No Amendments Found.