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. This 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 bill also includes provisions for the Department of Revenue to adopt emergency rules for implementation and mandates that certain tax credits be disregarded for revenue distribution purposes to protect the General Revenue Fund from revenue reductions.

Additionally, the bill outlines the responsibilities of the Department of Health in designating eligible charitable organizations, which must meet specific criteria, including conducting background checks and submitting annual audits. Organizations that provide or fund abortions are prohibited from receiving designation. The Department of Health is tasked with redesignating compliant organizations annually and publishing information about the tax credit and eligible organizations. The bill appropriates $208,000 from the General Revenue Fund for the implementation of the tax credit in the 2025-2026 fiscal year and includes new legal language to create section 624.51059, detailing the specifics of the tax credit and modifying the order of credits and deductions against the tax imposed.

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