Texas HB3232 establishes a strong families tax credit for entities contributing to eligible organizations.

Texas HB3232 creates a tax credit for entities contributing to eligible organizations that provide services for at-risk families and fathers. Eligible organizations must be certified by the Health and Human Services Commission and meet specific criteria, including conducting background checks on staff and limiting administrative expenses. Entities can claim the credit against certain taxes, with a maximum credit amount and limitations on carryforwards. The credit expires on January 1, 2028, but credits for contributions made before that date remain valid.

Texas HB3232 establishes a strong families tax credit for entities contributing to eligible organizations.

Texas HB3232 creates a tax credit for entities contributing to eligible organizations that provide services for at-risk families and fathers. Eligible organizations must be certified by the Health and Human Services Commission and meet specific criteria, including conducting background checks on staff and limiting administrative expenses. Entities can claim the credit against certain taxes, with a maximum credit amount and limitations on carryforwards. The credit expires on January 1, 2028, but credits for contributions made before that date remain valid.