Mo. Bill Raises Cap on Pregnancy Center Tax Credit

6 years 2 weeks 20 hours ago Wednesday, March 19 2014 Mar 19, 2014 Wednesday, March 19, 2014 4:35:56 AM CDT March 19, 2014 in News
By: The Associated Press

JEFFERSON CITY (AP) - Missouri could award additional tax credits for donations to pregnancy resource centers under legislation passed by the Missouri House.

The bill that is pending in the Senate would raise the current annual tax credit cap by $500,000, bringing the total amount up to $2.5 million per year.

People can currently receive a tax credit worth half of their donation to 57 pregnancy resource centers located throughout the state. Missouri is expected to waive $1.5 million in revenue during the current budget year as a result of the credit.

The House passed the bill on a 113-36 vote before lawmakers recessed for this week's break.

Missouri has not hit the current $2 million cap on the tax credit during the past three budget years.

 

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