SB 551 Creates a tax credit for donation to an endowment fund of a community foundation
Sponsor: Hegeman
LR Number: 2274S.01I Fiscal Notes
Committee: Jobs, Economic Development and Local Government
Last Action: 3/18/2015 - Second Read and Referred S Jobs, Economic Development and Local Government Committee Journal Page: S607
Title: Calendar Position:
Effective Date: August 28, 2015

Full Bill Text | All Actions | Amendments/CCRs/CCSs | Available Summaries | Senate Home Page | List of 2015 Senate Bills

Current Bill Summary


SB 551 - This act creates a tax credit for donations to an endowment fund of a community foundation. Community foundations are nonprofit entities with a primary mission of revitalizing the economy of a rural area. The tax credit is nonrefundable, nontransferable, and cannot be carried forward or back to any other tax year. The total amount of tax credits that may be issued in a calendar year is $500,000. No tax credits may be issued after August 28, 2020.

MIKE HAMMANN