SCS/SB 1137 - Under this act, a taxpayer may receive a tax credit for up to 50% of the amount of any donation made to an organization that works with ex-offenders to reduce recidivism.
Tax credits under this section are non-refundable but may be carried forward for the following four years. A taxpayer must donate at least $100 to receive the credit.
The Department of Corrections is charged with determining whether an organization is qualified. To be qualified, an organization must be a valid 501(c)(3) organization that has reduced recidivism in the group of ex-offenders it has worked with by at least 70%.
The Director of the Department of Corrections must establish a procedure for taxpayers to determine which organizations are qualified. The Department of Corrections must notify the Department of Revenue of any taxpayer wishing to claim a credit under this section. The Department of Revenue may authorize up to $2 million in tax credits under this section.
This act will sunset six years after enactment unless reauthorized by an act of the General Assembly.
This act is similar to HCS/HB 2759 (2016) and a provision in HCS/HBs 1589 & 2307 (2016).