Bill > HB6451

This bill establishes a new tax credit for individuals who donate to the endowment fund of a community foundation. The credit is equal to 50% of the donation, with a maximum credit of $100 for individual taxpayers or $200 for joint filers. For resident estates and trusts, the credit is limited to 10% of the taxpayer's tax liability or $5,000, whichever is less. To claim the credit, the taxpayer must receive a gift acknowledgment from the community foundation. The bill also requires the Department of Treasury to report annually on the total amount of tax credits claimed under this provision.