House Bill 1671 Summary

• Increases the Pregnancy Resource Act tax credit cap from $3.5 million to $10 million annually starting in 2023 and revises eligible organization definitions to require organizations certify no more than 20% of contributions go to administrative costs.

• Expands charitable giving tax credits for individual taxpayers: increases income tax credit limits from $400/$800 to $1,200/$2,400 (single/married) for calendar year 2023 and thereafter, and authorizes new ad valorem tax credits on real property starting January 1, 2023.

• Creates new tax credits for contributions to eligible transitional home organizations serving homeless persons age 25 and under, homeless families, and unwed pregnant women, with business credits capped at $10 million and individual credits capped at $1 million annually.

• Creates new tax credits for contributions to eligible charitable organizations providing healthcare services to low-income residents through physicians and nurse practitioners, with business credits capped at $3 million and individual credits capped at $1 million annually.

• Authorizes new state income tax credit equal to 25% of federal dependent care tax credit for taxpayers with adjusted gross income not exceeding $50,000, with credits carryable forward five years; all provisions effective January 1, 2023.