| SB 0937 | Tax Law Changes, Tax Credit-Maternity Homes, Domest. Violen. |
| Sponsor: | HOUSE | ||
| LR Number: | S3524.01I | Fiscal Note: | 3524-01 |
| Committee: | Aging, Families and Mental Health | ||
| Last Action: | 03/05/96 - Hearing Conducted S Aging, Families & Mental Health Commit | ||
| Title: | |||
| Effective Date: | Varies | ||
SB 937 - 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 $100 must be donated. 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 is similar to SB 847.
CHERYL GRAZIER