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SCS/SBs 638 & 647 - This act expands the Youth Opportunities Tax Credit to allow donation to programs that provide food for school age children to eat during non-school hours to qualify for the credit. These donations will fall under a separate $500,000 fiscal year cap. (Section 135.460) Currently, taxpayers may receive a tax credit for donations to maternity homes. The cumulative amount of tax credits that may be issued in a fiscal year is $2 million. This amendment raises the cap to $2.5 million per fiscal year, beginning with the 2015 fiscal year. The amendment also prohibits issuance of the tax credit after June 30, 2020. (Section 135.600) Currently, taxpayers that make donations to a pregnancy resource center may be eligible for an income tax credit. The amount of tax credits that may be issued in a fiscal year is limited to $2 million. This act raises the cap to $2.5 million, beginning with the 2015 fiscal year. This provision is identical to HB 1132 (2014). (Section 135.630) Currently, taxpayers that make donations to food pantries may be eligible for an income tax credit. The amount of food pantry tax credits that may be issued in a fiscal year is limited to $1.25 million. This act raises the cap to $1.75 million, beginning with the 2015 fiscal year. (Section 135.647) MIKE HAMMANN
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