Bill
Bill > H7995
RI H7995
Provides a tax credit for food donations by qualified taxpayers to nonprofit organizations up to five thousand dollars ($5,000) per year.
summary
Introduced
03/05/2024
03/05/2024
In Committee
03/05/2024
03/05/2024
Crossed Over
Passed
Dead
06/30/2024
06/30/2024
Introduced Session
2024 Regular Session
Bill Summary
This act would provide a tax credit for food donations by qualified taxpayers to nonprofit organizations up to five thousand dollars ($5,000) per year. This act would take effect on January 1, 2025.
AI Summary
This bill provides a tax credit for food donations by qualified taxpayers to nonprofit organizations up to $5,000 per year. The tax credit can be claimed for the fair market value of the donated food, as well as for transportation costs associated with the donation. The bill defines key terms like "apparently wholesome food" and "nonprofit organization," and outlines the requirements for claiming the credit, including that the donated food must be used to provide food to the needy. The bill also requires the Division of Taxation to report annually on the use of the credit. This act will take effect on January 1, 2025.
Committee Categories
Budget and Finance
Sponsors (10)
Carol McEntee (D)*,
Julie Casimiro (D),
Terri Cortvriend (D),
Jay Edwards (D),
Kathleen Fogarty (D),
Arthur Handy (D),
Jason Knight (D),
Michelle McGaw (D),
Tina Spears (D),
Teresa Tanzi (D),
Last Action
Committee recommended measure be held for further study (on 04/10/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://status.rilegislature.gov/ |
| BillText | https://webserver.rilegislature.gov/BillText24/HouseText24/H7995.pdf |
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