SB 557 - For all tax years beginning on or after January 1, 2019, this act creates a tax credit in an amount equal to fifty percent of a taxpayer's contribution to Love INC. The tax credit shall not be excess of $5,000. The tax credit may be carried forward over the next 3 years until fully claimed, and is non-transferrable.
This act shall sunset after 6 years unless reauthorized by the General Assembly.
This act is identical to SB 179 (2017) and SB 1134 (2016).