This week, the Senate Economic Development Committee heard HB 1688, which would extend the sunset date on the pregnancy resource center and maternity home tax credits, along with the Champion for Children tax credit which benefits organizations that assist children in unstable family situations.
These benevolent tax credits are favored by the Missouri General Assembly because they have monetary caps, they must be reauthorized periodically, and because they use public funds to attract private donations, thereby increasing the financial benefit to the organizations for which they are established. Most of these credits allow for a 50% tax credit for money donated. Thus a $100 donation would allow a taxpayer to claim a $50 state tax credit.
The MCC is hopeful that this is the year these credits will be re-authorized, as they will soon expire.