Bill > SB1547

This bill modifies provisions related to benevolent tax credits by expanding eligibility and increasing credit amounts for contributions to certain organizations. Specifically, it introduces a definition for "rural area" based on federal classifications and allows for a 100% tax credit for contributions made to shelters for victims of domestic violence, rape crisis centers, maternity homes, diaper banks, and pregnancy resource centers located in or serving a large number of residents in rural areas, starting July 1, 2026. For other contributions to these organizations, the credit percentage is increased from 50% to 70% for fiscal years beginning on or after July 1, 2022. The maximum individual tax credit per year is raised to $100,000 and will be adjusted annually for inflation, with unused credits allowed to be carried over to the next tax year. Additionally, the bill removes the cumulative annual limit on tax credits for diaper banks and pregnancy resource centers for fiscal years beginning on or after July 1, 2026, and July 1, 2021, respectively, and removes the sunset provision for diaper banks, ensuring the program continues indefinitely.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=627697