HB1685: Pregnancy Resource Act; create.

Legislative Summary

An Act To Create The Pregnancy Resource Act; To Authorize An Income Tax Credit, Insurance Premium Tax Credit And Ad Valorem Tax Credit For Voluntary Cash Contributions By Certain Taxpayers To Eligible Charitable Organizations; To Limit The Amount Of The Tax Credit; To Provide That Unused Portions Of A Tax Credit May Be Carried Forward For Five Consecutive Years From The Close Of The Tax Year In Which The Credit Was Earned; To Provide That Contributions For Which Tax Credits Are Claimed Under This Act May Not Be Used As Deductions For State Tax Purposes; To Provide The Criteria That An Eligible Charitable Organization Must Meet In Order For A Contribution To The Organization To Qualify For The Tax Credit Authorized By This Act; To Amend Section 27-7-22.41, Mississippi Code Of 1972, Which Provides An Income Tax Credit, Insurance Premium Tax Credit And Ad Valorem Tax Credit For Contributions Made By Certain Taxpayers To Certain Eligible Charitable Organizations, To Revise The Definition Of "eligible Charitable Organization"; To Add As Part Of The Required Written Certification A Statement That The Funds Generated From The Tax Credit Shall Be Used For Educational Resources, Staff And Expenditures And/or Other Purposes Described In This Section; To Delete Provisions That Require A Certain Portion Of Tax Credits That May Be Allocated Under This Section To Be Available Solely For Allocation For Contributions To Certain Eligible Charitable Organizations; To Increase The Amount Of Credits That May Be Allocated By The Department Of Revenue Under This Section; To Revise The Percentage Of Tax Credits That May Be Allocated During A Calendar Year For Contributions To Certain Eligible Charitable Organizations; To Authorize An Income Tax Credit For Taxpayers For Blood Donations Made By Employees Of A Taxpayer During A Blood Drive; To Amend Section 27-7-17, Mississippi Code Of 1972, As Amended By Senate Bill No. 2095, 2022 Regular Session, And House Bill No. 1529, 2022 Regular Session, To Conform To The Amendments Made By Both Bills; And For Related Purposes.