Mo. Senate Bill Raises Benevolent Tax Credit Cap
JEFFERSON CITY (AP) - Missouri could award additional tax credits for donations to pregnancy resource centers, food pantries and maternity homes under legislation endorsed by the Missouri Senate.
Under the bill given first-round approval Tuesday, the current annual tax credit cap would increase by $500,000 for all three programs. The pregnancy and maternity center tax credits would be limited to $2.5 million per year and the food pantry program would be capped at $1.75 million annually.
The legislation would also expand an existing tax credit program to apply toward donations for programs that provide food for students during non-school hours. That credit would be capped at $500,000 per year.
The measure needs one more vote before moving to the House.