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MS HB1685
Bill
Status
Passed
4/21/2022
Primary Sponsor
Philip Gunn
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AI Summary
- Creates the "Pregnancy Resource Act" authorizing tax credits (income, insurance premium, and ad valorem) for voluntary cash contributions by businesses to pregnancy resource centers and crisis pregnancy centers that are 501(c)(3) organizations eligible for Choose Life funding
- Caps aggregate tax credits under the Pregnancy Resource Act at $3.5 million per calendar year, with no single organization receiving more than 50% of allocated credits
- Increases aggregate tax credits under existing Section 27-7-22.41 for contributions to child welfare and educational charitable organizations from $16 million to $18 million starting in calendar year 2023
- Establishes a $20 income tax credit per verified employee blood donation made during workplace blood drives for calendar years 2022-2023, capped at $100,000 total annually
- Allows unused tax credits to be carried forward for five consecutive years and prohibits contributions receiving credits from being claimed as state tax deductions
Legislative Description
Pregnancy Resource Act; create.
Last Action
Approved by Governor
4/21/2022
Committee Referrals
Finance2/24/2022
Ways and Means2/21/2022
Full Bill Text
No bill text available