|SB 0159||Authorizes contributions of cash and marketable securities for maternity home tax credit|
|LR Number:||L0517.03T||Fiscal Note:||0517-03|
|Committee:||Ways and Means|
|Last Action:||07/09/99 - Signed by Governor||Journal page:|
|Title:||SCS SB 159|
|Effective Date:||January 1, 2000|
SCS/SB 159 - Current law authorizes a state income tax credit equal to fifty percent of cash contributions to qualified maternity homes and to shelters for victims of domestic violence. This act allows the credit to be taken for contributions of stocks, bonds, other marketable securities, and real property. Maternity homes and shelters for victims of domestic violence are permitted to decline any contribution.
The new provisions are effective January 1, 2000, and apply to all taxable years after December 31, 1999.
This act is similar to SCS/HB 548.