HB 1249 -- Income Tax Credit for Senior Center Donations

Sponsor:  Sater

Beginning January 1, 2011, this bill authorizes an income tax
credit for donations of cash or food to any senior citizen
services center.  The amount of the tax credit will be 50% of the
donation's value and cannot exceed $2,500 per taxpayer or the
amount of the taxpayer's state tax liability for the tax year it
is claimed.  The taxpayer must file an affidavit with his or her
income tax return verifying the contribution.  The tax credit is
nonrefundable and cannot be transferred, sold, or assigned but
can be carried forward three years.  The annual cumulative amount
of tax credits that can be issued is $2 million and will be on a
first-come, first-served filing basis.

The provisions of the bill will expire December 31 five years
from the effective date.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:10 pm