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SB 1015 - For all tax years beginning on or after January 1, 2019, this act authorizes a tax credit in the amount of fifty percent of a contribution to a qualified diaper bank, as defined in the act. The tax credit shall not be refundable or transferrable, and shall not be carried forward to any other tax year. No tax credit shall be issued in excess of $50,000, and the total amount of tax credits issued under this act shall not exceed $1 million in a given tax year. The Department of Social Services shall annually determine which facilities in the state may be classified as a qualified diaper bank, and the Department shall publish a list of such qualified diaper banks. The Department shall submit an annual report to the General Assembly which shall list all qualified diaper banks that received contributions in the previous year, along with the number of taxpayers that received tax credit certificates. This program shall sunset on December 31, 2024, unless reauthorized by the General Assembly. This act is substantially similar to HB 2440 (2018). JOSHUA NORBERG
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