SB1592

Missouri SB1592 authorizes a tax credit for contributions to prevention resource centers.

Missouri SB1592 introduces a tax credit for contributions to prevention resource centers, which are not-for-profit entities focused on reducing illegal or age-inappropriate use of substances. The tax credit equals 70% of the contribution amount, up to a maximum of $100,000 per taxpayer per year. The credit can be carried over to the next tax year if unused. The director of the department of mental health classifies facilities as prevention resource centers and establishes procedures for taxpayers to verify a facility's status. The total annual tax credit is capped at $2.5 million.