HCS/SCS/SB 86 - This act modifies the definitions of "CASA" and "Crisis care center". The act provides that the cumulative amount of tax credits that may be claimed by taxpayers claiming the credit for nonrecurring adoption expenses shall not be more than four million dollars, but may be increased by appropriation in any fiscal year beginning on or after July 1, 2004. The amount of remaining tax credits available for the children in crisis tax credit program will be divided equally among the three qualified agencies: CASA, child advocacy centers, and crisis care centers. In the event 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. In the event the total amount of tax credits claimed for any one agency exceeds the amount available for that agency, the amount redeemed shall and will be apportioned equally to all eligible taxpayers claiming the credit under that agency.
This act makes taxpayer donations of cash, publicly-traded stocks and bonds, and real estate to residential treatment agencies eligible donations for tax credits. Such donations will be valued and documented according to rules promulgated by the Department of Social Services.
This act contains an emergency clause.