HB 1581 -- Income Tax Credit for Donations to Food Pantries

Sponsor:  Jetton

This bill authorizes an income tax credit for donations of cash
or food to any local food pantry.  The amount of the tax credit
will be equal to one-half the value of the donation and cannot
exceed $2,500 per taxpayer.  The cumulative amount of the tax
credit issued to all taxpayers will be $2 million per year.  The
Director of the Department of Revenue will establish the
procedure for allotment of the tax credits so that all eligible
taxpayers will receive a share of the credits available for the
fiscal year.

The provisions of the bill will expire four years from the
effective date.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:43 am