SB1082

Modifies tax credit provisions for donated food in Missouri, allowing credits for donations to food banks, pantries, soup kitchens, and homeless.

The bill modifies provisions relating to a tax credit for donated food in Missouri. It allows taxpayers to claim a credit for donations of cash or food to food banks, local food pantries, local soup kitchens, or local homeless shelters. The credit is equal to 70% of the value of the donations, up to a certain limit per taxpayer. The bill also sets a cumulative limit on the total tax credits that can be claimed in a fiscal year. The tax credit program will automatically sunset on December 31, 2032, unless reauthorized by the general assembly.