MO HB1233

Allows taxpayers to claim a state income tax credit equal to fifty percent of cash or food donations made to 501(c)(3) exempt local food pantries serving low-income Missourians, effective for tax years beginning January 1, 2007 and later.

Limits individual tax credits to $2,500 per taxpayer per year, with unused credits allowed to carry forward for up to three subsequent tax years but not refundable.

Caps total tax credits statewide at $2 million per fiscal year, with the Director of Revenue responsible for apportioning credits among all eligible taxpayers by April 15.

Food donations must not be expired and are valued at fair market value, or wholesale value if donated by retail grocers, food brokers, wholesalers, or restaurants.

Prohibits taxpayers who employ unauthorized workers from claiming the credit and requires an affidavit verifying donation amounts with income tax returns.