HB 76 -- Income Tax Credit for Donations to Families of Veterans

Sponsor:  Smith (14)

Beginning January 1, 2007, this bill authorizes an income tax
credit for donations made to any seriously injured veteran of the
Global War on Terrorism or to the veteran's family.  The tax
credit will be equal to the cumulative value of all donations
made to the veteran or the veteran's family.  Donations include
gifts, loans, money, and in-kind services.  The tax credit may be
carried forward five years and is transferrable.

Donations can also be made to the families of veterans who are
missing in action.  If the veteran is found, the taxpayer can
continue to claim the credit for all subsequent donations made to
the veteran or his or her family.

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

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:17 am