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MO HB2119

Bill

Official Source

Status

Introduced

3/10/2014

Primary Sponsor

Jeanie Riddle

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Allows taxpayers to claim a tax credit equal to 50% of contributions made to qualified maternity homes located in Missouri
  • Limits individual taxpayer credits to $50,000 per taxable year, with unused credits carried over up to 4 succeeding years
  • Requires minimum contribution of $100 in a taxable year to claim credit, except for carried-over excess credits
  • Increases cumulative statewide tax credit cap from $2 million for fiscal years ending on or before June 30, 2014, to $2.5 million for fiscal years beginning on or after July 1, 2014
  • Directs the Department of Social Services to classify eligible maternity homes, establish procedures for taxpayers to claim credits, and proportionally allocate available credits among participating facilities

Legislative Description

Increases, from $2 million to $2.5 million, the maximum amount of tax credits in any fiscal year for donations to a maternity home

Last Action

Referred: Economic Development(H)

5/16/2014

Committee Referrals

Economic Development5/16/2014

Full Bill Text

No bill text available