The proposed bill establishes the "Home Away From Home Tax Credit," which allows taxpayers to claim a credit of 100% of eligible contributions made to designated charitable organizations starting from January 1, 2026. The credit can be applied against various taxes, including oil and gas production taxes, sales taxes for direct pay permitholders, and corporate income taxes, with specific limitations on the total amount of credits that can be claimed. The Department of Health is responsible for designating eligible charitable organizations and ensuring compliance with requirements, including background checks for staff and volunteers. The bill also mandates that contributions be used specifically for housing families of critically ill children.

Additionally, the bill includes appropriations of $208,000 from the General Revenue Fund to the Department of Revenue for the implementation of the tax credit in the 2025-2026 fiscal year. It introduces new legal language to create section 624.51059, which details the tax credit's provisions, and modifies the order of credits and deductions against the tax imposed by the section. The Department of Revenue is authorized to adopt emergency rules for the credit's administration and is tasked with developing cooperative agreements to ensure compliance and oversight. The act is set to take effect on July 1, 2025.

Statutes affected:
S 182 Filed: 220.02
S 182 c1: 220.02, 624.509