SB 330 - Current law authorizes a tax credit for contributions made to CASAs, child advocacy centers, and crisis care centers, as such terms are defined in the act, with such tax credit equal to fifty percent of the contribution. For all tax years beginning on or after January 1, 2025, this act increases the tax credit to seventy percent of the contribution. The act also prohibits a taxpayer from claiming more than $50,000 in tax credits authorized by the act in any given tax year. Additionally, the current maximum amount of tax credits that may be authorized for contributions made to qualified agencies shall not exceed $1.5 million. For all fiscal years beginning on or after July 1, 2025, this act provides that the amount of tax credits that may be authorized by the act in a fiscal year shall not be limited.
This act changes the sunset date from December 31, 2025, to December 31, 2031, unless reauthorized by the General Assembly.
This act is identical to HB 2101 (2024), SB 662 (2023), and HB 1343 (2023), and to a provision in SB 1060 (2024), and is substantially similar to SB 1174 (2024), HB 1973 (2024), and HB 2629 (2024), and to a provision in HCS/SS#2/SB 862 (2024) and HCS/HB 1935 (2024).
JOSH NORBERG