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ND HB1233
Bill
Status
1/3/2019
Primary Sponsor
Shannon Roers Jones
Click for details
AI Summary
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Allows individuals a tax credit equal to 40 percent of charitable gifts made to qualified endowments or qualified nonprofit organizations incorporated or established in North Dakota for at least two years.
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Sets minimum gift threshold of $5,000 for a single charitable gift, or aggregate of $5,000 for multiple gifts to the same organization, to qualify for the credit.
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Caps maximum annual tax credit at $10,000 for individuals or $20,000 for married couples filing jointly, and limits credit to not exceed taxpayer's income tax liability.
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Maintains separate provision for planned gifts with 40 percent credit on the charitable gift portion, with same $10,000 individual and $20,000 joint return annual maximum.
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Effective for taxable years beginning after December 31, 2018.
Legislative Description
An income tax credit for charitable contributions to a qualified endowment or a qualified nonprofit organization; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 19 nays 73
1/30/2019