This bill aims to revise the tax credit for contributions to a qualified endowment by increasing the maximum donation that qualifies for the credit. Additionally, it seeks to repeal the termination date of the credit, ensuring its continued availability for taxpayers who make contributions to qualified endowments. The bill amends several sections of the Montana Code Annotated (MCA), specifically sections 15-30-2328, 15-30-2329, 15-31-161, and 15-31-162, to reflect these changes.

Furthermore, the bill repeals multiple sections from various laws enacted between 1997 and 2019 that may have previously governed or limited the tax credit for endowment contributions. By removing these outdated provisions, the bill aims to streamline the process and enhance the effectiveness of the tax credit, thereby encouraging more contributions to qualified endowments. The proposed changes are intended to provide a more favorable tax environment for donors, ultimately benefiting the endowments and the causes they support.

Statutes affected:
SB0506_1.pdf: 15-30-2328, 15-30-2329, 15-31-161, 15-31-162
SB0506_2.pdf: 15-30-2328, 15-30-2329, 15-31-161, 15-31-162
Amended: 15-30-2328, 15-30-2329, 15-31-161, 15-31-162
Introduced: 15-30-2328, 15-30-2329, 15-31-161, 15-31-162