SB 1196 - For all tax years beginning on or after January 1, 2023, this act allows eligible taxpayers to receive a tax credit for providing certain services to homeless persons. An eligible taxpayer is defined as a qualified provider of employment services to homeless persons, a qualified provider of employment to homeless persons, or a qualified provider of housing to homeless persons. The amount of the tax credit shall not exceed $10,000 per tax year, and the total amount of tax credits authorized under the act per fiscal year shall not exceed $1 million.
The Department of Economic Development shall publish guidelines for determining who is a qualified provider of employment services, employment, or housing to homeless persons, as described in the act.
This act shall sunset on December 31, 2029, unless reauthorized by the General Assembly.