MO HB1249

Allows taxpayers to claim a state income tax credit equal to 50% of cash or food donations made to senior citizen services centers, effective for tax years beginning January 1, 2011

Tax credit cannot exceed $2,500 per taxpayer per year and is limited by the taxpayer's state tax liability; unused credits may be carried forward for up to three subsequent tax years

Aggregate tax credits issued statewide cannot exceed $2 million per fiscal year, with credits allocated on a first-come, first-served basis

Requires taxpayers to file an affidavit with their income tax return verifying donation amounts; food donations must not be expired and are valued at fair market value (or wholesale value if donated by grocery stores, food brokers, wholesalers, or restaurants)

Ineligible taxpayers include those who employ persons not authorized to work in the United States; program automatically sunsets December 31, 2015 unless reauthorized by the legislature