Bill > HB1181

This bill creates the "Missouri Gives Tax Credit Act", which establishes a tax credit program for individuals and business entities who make contributions to permanent endowment funds held by qualified community foundations in Missouri. Under this program, taxpayers can claim a tax credit equal to 25% of their contribution to a permanent endowment fund, with several key restrictions: the tax credit cannot exceed $100,000 per taxpayer per year, is non-refundable, cannot be carried forward or transferred, and is part of a total statewide cap of $5 million in credits annually. To qualify, the endowment fund must exclusively benefit Missouri residents or charities, be intended to exist perpetually, and have an annual spending rate not exceeding 7%. A unique feature of the program is that 25% of the available tax credits are reserved for smaller donations under $25,000. Taxpayers must file a receipt and affidavit with their tax return to claim the credit, and the program is set to automatically sunset after six years unless reauthorized by the Missouri General Assembly. The bill aims to incentivize charitable giving to local community foundations by providing a state tax benefit.

https://house.mo.gov/Bill.aspx?bill=HB1181&year=2025&code=R