SPONSOR: Collins

Subject to appropriation, beginning January 1, 2025, this bill establishes a tax credit equal to 50% of a taxpayer's contribution to a qualified organization that provides support services and assistance to justice-involved individuals and people in recovery from substance use disorders.

Qualified organizations shall not have:

(1) An annual budget in excess of $5 million;

(2) Any employee who receives more than $125,000 in annual compensation; or

(3) Affiliation with any housing organization unless accredited by the National Alliance of Recovery Residences or Adult and Teen Challenge USA.

Qualified organizations are permitted to decline contributions.

Any tax credit that cannot be claimed for the tax year in which the contribution is made may be carried forward to the next four succeeding tax years until the full credit has been claimed.

No taxpayer shall be allowed to claim a credit unless the total amount of their contribution has a value of at least $250, except for any excess credit carried forward.

The cumulative amount of tax credits allowed to all taxpayers shall not exceed $2.5 million per tax year. In any given calendar year, no more than 20% of the total available tax credits shall be authorized for contributions to a single qualified organization.

The tax credit created in this bill shall be subject to the provisions of the Tax Credit Accountability Act, and shall sunset on December 31st, six years after the effective date.

This bill is similar to HB 1444 (2024); HB 1028 (2023); HB 2527 (2022); and SB 547 (2023).

Statutes affected:
Introduced (4512H.01): 135.440, 135.800