SENATE BILL 471

File Code: Income Crossfiled with: HOUSE BILL 535

Sponsored By:

Senator McFadden

Entitled:

State Income Tax Credits for Charitable Giving

Synopsis:

Allowing a credit against the State income tax for 10% of the amount by which an individual's charitable contributions for a taxable year exceed 4% of adjusted gross income; limiting the credit to the State income tax otherwise imposed for the taxable year; and applying the Act to tax years after 1998.

History by Legislative Date

Senate Action

2/5

First Reading Budget and Taxation

2/10

Hearing 2/24 at 1:30 p.m.

2/17

Hearing cancelled

2/24

Hearing 3/17 at 1:30 p.m.

3/22

Withdrawn

House Action

No Action

Bill indexed under the following Subjects:

GIFTS

INCOME TAX

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General

( 10-712 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered