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Committee hears proposal for tax credit to encourage private gifts to public infrastructure
Summary
Senate Bill 267 would create a nonrefundable tax credit equal to 50% of the present value of charitable gifts to certified public infrastructure projects, up to $500,000; proponents say it unlocks private funding for local projects, while opponents warn of precedent and appropriation concerns.
Senate Bill 267, introduced by Senator Dave Fern, would create a tax credit to incentivize charitable gifts to public infrastructure projects, including health clinics, senior centers, libraries and museums. The sponsor described it as “somewhat of an infrastructure bridal” intended to encourage private investment in public facilities.
Senator Dave Fern, the bill sponsor, summarized the proposal’s core features and told the committee the credit would be administered pursuant to existing statutory framework (the bill text references 5‑4‑104). Fern described the proposed credit as nonrefundable and targeted: it would make available a credit equal to 50% of the present value of an eligible charitable gift, capped at $500,000 per taxpayer, to certified public infrastructure…
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