Bill > SB1082

This bill modifies the tax credit program for food donations in Missouri, expanding eligibility and increasing potential credit amounts. The bill introduces a new definition for "food bank" and updates existing definitions for local food pantries, homeless shelters, and soup kitchens, all of which must be 501(c)(3) tax-exempt organizations. Currently, taxpayers can receive a 50% tax credit for food or cash donations to local food pantries, soup kitchens, and homeless shelters, with a maximum credit of $2,500 per taxpayer. Beginning in 2026, the bill increases the tax credit to up to 70% of the donation value. The total annual tax credit allocation will increase from $1.75 million to $3.5 million, now including food bank donations. The bill also adds a provision that if a taxpayer is denied a full tax credit due to reaching the annual maximum, they will not be penalized for any resulting tax balance if paid within 60 days. The tax credit program is set to automatically sunset on December 31, 2032, unless reauthorized by the General Assembly. Importantly, donated food must be within its expiration date, and no taxpayer can claim more than one credit for a single donation.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=117