Staff Analysis of the Legislation
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This legislation increases the maximum tax credits for donations to qualifying rural hospitals. Single head of household increases to 90% of amount expended or $5,000 whichever is greater; married couples increases to 90% of amount expended or $10,000 whichever is greater; corporations limits are 90% of amount expended or no more than 75% of tax debt. The amount available for the tax credits increased from $50 million to $60 million for FY 17, FY 18 and FY 19. The amount a qualifying hospital can receive per year is capped at $4 million for total donations. |
