Bill > H2617

This bill proposes to create a new tax credit for businesses that donate "apparently wholesome food," which is defined by federal law as food that meets quality and safety standards and is fit for human consumption. Specifically, if a business claims a federal tax deduction for donating such food from their trade or business, they can also claim a refundable tax credit equal to 15% of that deduction. For businesses operating partially outside the state, the deduction and subsequent credit will be calculated based on the portion of the business conducted within the state. This measure aims to incentivize charitable food donations by providing a financial benefit to businesses.