SPONSOR: Terry
For all tax years beginning on or after January 1, 2026, this bill authorizes a taxpayer to claim a tax credit in an amount equal to federal mileage reimbursement rate, but not to exceed $3,000, for providing qualified transportation as a volunteer driver, as defined in the bill, for a not-for-profit organization. The amount of the tax credit must be adjusted annually for inflation. Tax credits authorized by the bill are not refundable and cannot be transferred, sold, or assigned, but may be carried forward for three tax years. A taxpayer cannot claim a credit for any miles driven to the extent the taxpayer has claimed a deduction or any other tax benefit for federal tax purposes, or for which the taxpayer has received reimbursement from a qualified organization. The total amount of tax credits authorized by the bill must not exceed $1 million in any fiscal year, with the amount adjusted annually for inflation. This bill sunsets on December 31, 2031.
This bill is the same as SB 607 (2025).
Statutes affected: