MO HB2612

Creates a 50% state tax credit for contributions to Love INC organizations, which are Missouri nonprofits that coordinate churches to respond to individual, family, and project needs

Tax credit effective for tax years beginning on or after January 1, 2017, with a maximum credit of $5,000 per taxpayer per year

Minimum contribution of $100 required to claim the credit; unused credits may be carried forward for up to three succeeding tax years but cannot be transferred or sold

Eligible taxpayers include individuals, corporations, S corporation shareholders, partnerships, insurance companies, financial institutions, and qualifying charitable organizations

Program automatically sunsets 6 years after effective date unless reauthorized by the General Assembly