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RI S2447
Bill
Status
2/6/2026
Primary Sponsor
Meghan Kallman
Click for details
AI Summary
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Creates a tax credit equal to 75% of the fair market value of donated "apparently wholesome food" to nonprofit organizations, capped at $5,000 per tax year
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Eligible taxpayers include corporations, partnerships, food producers, grocers, wholesalers, hotels, restaurants, caterers, farmers, and hospitals donating to 501(c)(3) nonprofits that provide food to the needy
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Unused credits may be carried forward for up to five succeeding tax years until fully claimed
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Nonprofit recipients must provide a certificate documenting the donor's name, donation date, food type and quantity, fair market value, and compliance with food safety standards
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Effective January 1, 2027, with the Division of Taxation required to report annually on credits generated, claimed, and number of taxpayers using the credit
Legislative Description
Provides a tax credit for food donations by qualified taxpayers to nonprofit organizations up to five thousand dollars ($5,000) per year.
Taxation
Last Action
Introduced, referred to Senate Finance
2/6/2026