HCS SCS SB 86 -- TAX CREDIT FOR CHILDREN IN CRISIS

SPONSOR:  Champion (Sutherland)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Ways and
Means by a vote of 7 to 0.

This substitute changes the laws regarding tax credits for
children in crisis by specifying that the cumulative cap on the
nonrecurring adoption expenses cannot be more than $4 million
unless additional funds are appropriated in any fiscal year
beginning on or after July 1, 2004, and dividing the amount of
remaining tax credits available for the children in crisis tax
credit program equally among court-appointed special advocate
(CASA) entities, child advocacy centers, and crisis care centers.
If tax credits claimed under one agency do not total the
allocated amount for that agency, the remaining tax credits will
be allocated equally among the remaining agencies.  If the total
amount of tax credits claimed for any one agency exceeds the
amount available for that agency, the amount redeemed will be
apportioned equally to all eligible taxpayers claiming the credit
under that agency.

The Residential Treatment Agency Tax Credit Act is revised so
that an eligible donation made to a state agency providing
services for children in residential facilities can include cash,
publicly traded stocks and bonds, and real estate.  These
donations will be valued according to rules established by the
Department of Social Services.

The substitute contains an emergency clause.

FISCAL NOTE:  No impact on state funds in FY 2008, FY 2009, and
FY 2010.

PROPONENTS:  Supporters say that the bill clarifies the tax
administration of the tax credit by the Department of Revenue.
The credit is important to increase donations and help with fund
raising.

Testifying for the bill were Senator Champion; Jay Wood, Missouri
Kids First; Department of Social Services; and Department of
Revenue.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am