SB 0694 Authorizes state income tax deduction for contributions of qualified commodities to charitable organizations
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
Effective Date:August 28, 2000
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Current Bill Summary

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.