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MO HB2054

Bill

Official Source

Status

Introduced

2/8/2010

Primary Sponsor

Kate Meiners

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Extends the sunset date of the donated food tax credit program from August 28, 2011 (four years after August 28, 2007) to August 28, 2023 (six years after August 28, 2017)
  • Allows taxpayers to claim a tax credit equal to 50 percent of cash or unexpired food donations to eligible local food pantries, capped at $2,500 per taxpayer per year
  • Maintains the cumulative annual cap of $2 million in total tax credits available to all taxpayers contributing to food pantries in any fiscal year
  • Requires taxpayers to file an affidavit with their income tax return verifying donation amounts and prohibits eligibility for taxpayers employing unauthorized workers
  • Food donations are valued at fair market value, or at wholesale value if donated by retail grocery stores, food brokers, wholesalers, or restaurants

Legislative Description

Extends the income tax credit for donations to food pantries from August 28, 2011, until August 28, 2023

Last Action

Referred: Tax Reform (H)

5/14/2010

Committee Referrals

Tax Reform5/14/2010

Full Bill Text

No bill text available