HCS HB 453 -- INCOME TAX CREDITS FOR DONATIONS TO FOOD PANTRIES
(Jetton)

COMMITTEE OF ORIGIN:  Special Committee on Senior Citizen
Advocacy

This substitute 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 that can be issued to all taxpayers will be $2 million
per year.  The Director of the Department of Revenue will
establish the procedure for distributing the tax credits so that
all eligible taxpayers will receive a share of the credits
available for the fiscal year.

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

FISCAL NOTE:  Estimated Cost on General Revenue Fund of $31,188
to $2,031,188 in FY 2008, $32,248 to $2,032,248 in FY 2009, and
$33,216 to $2,033,216 in FY 2010.  No impact on Other State Funds
in FY 2008, FY 2009, and FY 2010.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am