SPONSOR: Amato
Beginning January 1, 2027, this bill authorizes a tax credit for local hospital foundation donations. A qualified taxpayer may claim a tax credit in an amount equal to 50% of the value of his or her donations made to a local hospital foundation. The amount of the credit claimed must not exceed $2,500 per taxpayer per year. The cumulative amount of tax credits allowed to all taxpayers cannot exceed $2 million per calendar year. This program sunsets six years after its effective date.
This bill modifies the "Tax Credit Accountability Act of 2004" by updating the definitions of "Business recruitment tax credits", "Domestic and social tax credits", and "Training and educational tax credits".
This bill is similar to HB 364 (2025)and HB 1731(2024).
Statutes affected: