Bill > HF2158

This bill creates a Hoover presidential library tax credit available against the individual and corporate income taxes, the franchise tax, the insurance premiums tax, and the moneys and credit tax. The tax credit is equal to 25% of a person's donation to the Hoover presidential foundation for the library and museum renovation project. The total amount of tax credits authorized is capped at $4 million, with a maximum of 5% available to any one person and 10% reserved for donations of $30,000 or less. The tax credit cannot be transferred and expires on December 31, 2029.