SCS HCS HB 1485 -- TAX CREDIT FOR PREGNANCY RESOURCE CENTERS AND
CHILDREN IN CRISIS

This bill authorizes an income tax credit for contributions to
centers providing certain social services.

PREGNANCY RESOURCE CENTERS

The bill authorizes an income tax credit for 50% of contributions
made to qualified pregnancy resource centers.  Pregnancy resource
centers are nonresidential facilities that provide assistance and
support to women with crisis or unplanned pregnancies and do not
provide abortions or referrals for abortion services.

The tax credit may be taken against income tax, corporate
franchise tax, insurance premium tax, financial institutions tax,
and express company tax liability.  The tax credit is not
refundable, but can be carried forward and claimed for up to four
taxable years.

The maximum credit a taxpayer can claim is $50,000 per year, and
the minimum contribution must be at least $100.  The statewide
maximum of tax credits that can be taken in any one year is $2
million.  The Department of Social Services is to designate the
centers and apportion the credits when the applications exceed
the statewide cap.

CHILDREN IN CRISIS

The bill authorizes an income tax credit for up to 50% of
contributions made to a child advocacy center, a crisis care
center, or an entity which receives funding from the Court
Appointed Special Advocate Fund.  To receive the credit,
donations must be at least $100, and the qualified agency
receiving the contribution will issue a contribution verification
to the taxpayer to be attached to his or her income tax return.

In order to become a qualified agency, each year prior to
December 31, an agency must apply to the Department of Social
Services to verify its status.  By February 1 of each year, the
department will provide a list of qualified agencies to the
Department of Revenue.

The children in crisis tax credit has a cumulative cap equal to
the unclaimed portion of the resident adoption tax credit.  The
amount available will be equally divided among the agencies, and
any unused portion not used by an agency will be available to the
remaining agencies.  After all the children in crisis tax credits
have been claimed, any remaining unclaimed portion of the
reserved allocation will be made available for nonresident
special needs adoption tax credits claims.  The bill allocates $2
million of the tax credits for the adoption of special needs
children who are residents of this state.  The cumulative amount
of tax credits that may be claimed for nonrecurring adoption
expenses will not be less than $4 million but may be increased by
appropriation.

The bill removes the requirement that the Director of the
Department of Revenue submit an annual report to the General
Assembly on the income levels of taxpayers claiming the tax
credit.

Applications for the adoption credit for special needs children
must be filed between July 1 and April 15 of each fiscal year.
The credit is not refundable, but can be carried forward and
claimed for up to five consecutive years.

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

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