Bill > SB205

This bill modifies the existing tax credit program for contributions to domestic violence shelters and rape crisis centers in Missouri, expanding the tax credit from 50% to 70% of contributions for fiscal years starting July 1, 2022, and introducing two new tax credit provisions effective January 1, 2026. The first new provision offers a $1,000 tax credit to taxpayers who convert abandoned property into an operational domestic violence shelter, and the second provides a $500 tax credit to taxpayers who rent residential real estate to victims of domestic violence, with a strict requirement to protect the renter's identity. The bill maintains the existing $50,000 annual tax credit limit per taxpayer and removes the previous $2 million cumulative annual cap on total tax credits for these contributions. The tax credits can be claimed against various state tax liabilities, including income and franchise taxes, and any unused credits can be carried forward to the next tax year. The Department of Social Services will continue to classify eligible shelters and rape crisis centers and establish procedures for claiming these tax credits, with the Department of Revenue jointly responsible for creating implementation rules.

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https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=255