SB 0694 | Authorizes state income tax deduction for contributions of qualified commodities to charitable organizations |
Sponsor: | Maxwell | |||
LR Number: | 2744S.01I | Fiscal Note: | 2744-01 | |
Committee: | Agriculture, Conservation, Parks & Tourism | |||
Last Action: | 01/19/00 - Hearing Conducted S Agriclture, Conservation, Parks | Journal page: | ||
& Tourism Committee | ||||
Title: | ||||
Effective Date: | August 28, 2000 | |||
SB 694 - This act authorizes a state income tax deduction
for taxpayers who contribute commodities, as listed by the
Secretary of the U.S. Department of Agriculture, to section
503(c)(3) (charitable) organizations. The deduction will be
equal to the parity price of the commodities, up to a total of
$10,000 per taxpayer per taxable year.
DAVID VALENTINE