Iowa SF2279 creates a tax credit for donations to maternity group homes, reducing individual, corporate, franchise, insurance premium, and moneys and.

Iowa SF2279 establishes a tax credit for donations to maternity group homes, available against various taxes. The credit equals 100% of the donation amount, up to an annual limit of $3.5 million. For each organization, the credit is capped at $500,000 annually. The Department of Revenue administers the credit, processing applications on a first-come, first-served basis until the annual limit is reached. Unapproved applications are placed on a waitlist for future consideration. The credit is not refundable, cannot be carried back to previous tax years, and is not transferable.

Iowa SF2279 creates a tax credit for donations to maternity group homes, reducing individual, corporate, franchise, insurance premium, and moneys and.

Iowa SF2279 establishes a tax credit for donations to maternity group homes, available against various taxes. The credit equals 100% of the donation amount, up to an annual limit of $3.5 million. For each organization, the credit is capped at $500,000 annually. The Department of Revenue administers the credit, processing applications on a first-come, first-served basis until the annual limit is reached. Unapproved applications are placed on a waitlist for future consideration. The credit is not refundable, cannot be carried back to previous tax years, and is not transferable.