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MO SB647

Bill

Official Source

Status

Introduced

1/8/2014

Primary Sponsor

Richard Sifton

Click for details

Origin

Senate

2014 Regular Session

AI Summary

  • Repeals and reenacts section 135.647, RSMo to modify the tax credit for donations to local food pantries
  • Increases the cumulative annual cap on tax credits from $1.25 million to $2 million per fiscal year
  • Allows taxpayers to claim a tax credit equal to 50 percent of cash or food donations to qualified food pantries, capped at $2,500 per taxpayer per year
  • Requires taxpayers to file an affidavit with their income tax return verifying contributions and prohibits the credit for taxpayers employing unauthorized workers
  • Program is reauthorized as of March 29, 2013 and expires December 31, 2019 unless reauthorized by the general assembly

Legislative Description

Raises the fiscal year cap on the Food Pantry Tax Credit from $1.25 million to $2 million

Last Action

Bill Combined (w/SCS SBs 638 & 647)

2/12/2014

Committee Referrals

Jobs, Economic Development And Local Government1/23/2014

Full Bill Text

No bill text available