SB 488 - Coleman, Mary Elizabeth
Modifies provisions relating to a tax credit for donations to food pantries
Bill Details
Sponsor
LR Number
1887S.01I
Title
SB 488
House Handler
N/A
Journal Page
Effective Date
August 28, 2023
Committee
Current Status
Second Read and Referred S Economic Development and Tax Policy Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 488 - Current law authorizes tax credits for donations made to local food pantries, local soup kitchens, and local homeless shelters, with such tax credits limited to annual authorizations of $1.75 million. This act increases the maximum amount of annual authorizations to $2.75 million.
Additionally, such tax credits are scheduled to sunset on December 31, 2026. This act extends the sunset date to December 31, 2027.
This act is identical to a provision in HCS/SS/SB 143 (2023) and SCS/HCS/HB 154 (2023), and is substantially similar to HCS/HB 653 (2023) and to a provision in HCS/SS/SCS/SB 92 (2023).
JOSH NORBERG