SB 0847 Tax Law Changes/Tax Credit-Maternity Homes/Domestic Violence
LR Number:S3176.01I Fiscal Note:3176-01
Committee:Ways and Means
Last Action:02/29/96 - Bill Combined w/SCS SBs 752, 789, 843 & 847
Title:SCS SBs 752, 789, 843 & 847
Effective Date:Varies
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Current Bill Summary

SB 847 - This act would make several technical changes to tax statutes and enact two new sections.

Section 1 grants taxpayers a tax credit for 50% of the amount donated to domestic violence shelters. Section 2 grants a tax credit for 50% of the amount donated to maternity homes. In order to receive either credit, at least $250 must be donated and the maximum credit is $50,000. The credit may only be used up to the amount of the taxpayer's tax liability, but may be carried forward for four years. The aggregate maximum amount of the credits allowed in a fiscal year is $4 million, $2 million under each section.

This act contains provisions also contained in SB 752.