House Bill No. [insert number] proposes the establishment of a nonrefundable income tax credit for donations made to qualifying nonprofit organizations that provide services to female adolescent victims of human trafficking. The bill defines a "qualifying organization" as one that operates a licensed residential home and offers various services, including academic assessments, psychiatric management, mental health therapy, substance abuse therapy, life skills training, and community volunteer opportunities. The tax credit amount is capped at the lesser of the actual donation amount or $30,000, with a total limit of $300,000 on credits granted per calendar year.

Additionally, the bill stipulates that taxpayers cannot receive any other state tax benefits for donations that qualify for this tax credit. If the credit exceeds a taxpayer's income tax liability, the unused portion can be carried forward for up to five years. The provisions of this act will apply to taxable periods beginning on or after January 1, 2026, and the act will take effect on the same date.