MO HB27

Allows taxpayers donating cash or food to senior citizen services centers a tax credit equal to 50% of the donation value for tax years beginning January 1, 2012 and later.

Limits the tax credit to a maximum of $2,500 per taxpayer per year and requires donations to be verified with an affidavit filed with the income tax return.

Restricts eligibility to taxpayers subject to Missouri state income tax under chapter 143, and prohibits the credit for taxpayers employing unauthorized workers.

Caps total tax credits issued statewide at $2 million per fiscal year on a first-come, first-served basis, with unused credits allowed to carry forward up to three subsequent tax years.

Program automatically sunsets December 31, 2016 unless reauthorized, with Department of Revenue authorized to promulgate implementing rules.