ARIZONA
HOUSE OF REPRESENTATIVES
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SB 1027: tax credit; charitable organizations; eligibility |
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PRIME SPONSOR: Senator Leach, LD 11 BILL STATUS: Caucus & COW |
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Expands the tax credit for contributions to qualifying organizations who spend its services on individuals, rather than children, who have a chronic illness or physical disability.
History
Current law allows an individual tax credit for voluntary cash contributions by a taxpayer or on the taxpayer's behalf to a qualifying charitable organization not to exceed $400 for a single individual or head of household or $800 for a married couple filing a joint return. (A.R.S. § 43-1088)
Qualifying charitable organization is defined as a charitable organization that is exempt from a federal income taxation under 501(c)(3) of the Internal Revenue Code or is a designated community action agency that receives Community Services Block Grant Program pursuant to 42 U.S.C. § 9901. The organization must spend at least 50 percent of its budget on services to residents of Arizona who receive temporary assistance for needy families benefits, low-income residents of Arizona and their households or to children who have a chronic illness or physical disability and who are residents of Arizona. (A.R.S. § 43-1088)
Provisions
1. Expands the tax credit for contributions to qualifying organizations who spend at least 50 percent of its budget on services to individuals, rather than children, who have a chronic illness or physical disability and who are residents of Arizona. (Sec. 1)
2. Defines individuals who have a chronic illness or physical disability as individual whose primary diagnosis is a severe physical condition that may require ongoing medical or surgical intervention. (Sec. 1)
3. Applies retroactively to taxable years beginning from and after December 31, 2018. (Sec. 2)
4. Makes technical changes. (Sec. 1)
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Fifty-fourth Legislature SB 1027
First Regular Session Version 2: Caucus & COW
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