Bill > HB245

This bill amends the Rural Hospital Investment Program by transferring oversight of the program from the Rural Hospital Investment Program Board to the Department of Revenue, which is referred to as the "department" in the bill. The program allows for tax credits for qualified donations made to eligible rural hospitals, which are defined as rural general acute care, rural emergency, or critical access hospitals located in rural areas. These donations can be offset against various taxes, including financial institution excise tax, income tax, insurance premium tax, and utility tax, with specific limitations on the amount of credit an individual or entity can claim. The bill also repeals existing provisions related to rulemaking authority for the State Treasurer and the board, and mandates that the Department of Revenue adopt rules to administer the program, including how tax credits are awarded based on the order they are requested.