Texas SB2018 establishes a strong families tax credit for entities contributing to eligible organizations.

Texas SB2018 amends the Alcoholic Beverage Code, Insurance Code, and Tax Code to create a strong families tax credit for entities contributing to eligible organizations. Eligible organizations must provide services for at-risk families and fathers, and must not provide abortion services or receive more than 50% of revenue from the state. Entities can claim credits against certain taxes, with limitations on the amount and carryforward of credits. The comptroller allocates credits on a first-come, first-served basis and notifies applicants of decisions.

Texas SB2018 establishes a strong families tax credit for entities contributing to eligible organizations.

Texas SB2018 amends the Alcoholic Beverage Code, Insurance Code, and Tax Code to create a strong families tax credit for entities contributing to eligible organizations. Eligible organizations must provide services for at-risk families and fathers, and must not provide abortion services or receive more than 50% of revenue from the state. Entities can claim credits against certain taxes, with limitations on the amount and carryforward of credits. The comptroller allocates credits on a first-come, first-served basis and notifies applicants of decisions.