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MO SB1134

Bill

Official Source

Status

Introduced

3/1/2016

Primary Sponsor

Dan Brown

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Creates a 50% state tax credit for contributions to Love INC, a Missouri nonprofit that coordinates churches to respond to individual, family, and project needs in the name of Christ
  • Credit limited to $5,000 maximum per taxpayer per tax year, with 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 assigned, transferred, or sold
  • Effective for tax years beginning on or after January 1, 2017
  • Program automatically sunsets six years after the effective date unless reauthorized by the General Assembly

Legislative Description

Creates a tax credit for charitable donations to Love INC

Last Action

Second Read and Referred S Jobs, Economic Development and Local Government Committee

3/3/2016

Committee Referrals

Jobs, Economic Development And Local Government3/3/2016

Full Bill Text

No bill text available