HB2457

Modifies provisions related to the donated food tax credit for contributions to food banks, food pantries, soup kitchens, and homeless shelters.

Modifies provisions related to the donated food tax credit for contributions to food banks, food pantries, soup kitchens, and homeless shelters. Beginning on January 1, 2026, taxpayers can claim a credit against their tax liability for donations to these organizations. The credit is up to 70% of the donation's value, with a cap of $2.75 million per fiscal year for food pantries, soup kitchens, and homeless shelters, and $1.25 million for food banks. The credit is not transferable, sellable, or assignable. The credit is sunset on December 31, 2032, unless reauthorized.