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Committee advances tax-credit program to encourage donations to rural hospitals; substitute and technical amendments adopted
Summary
The House Ways and Means Education Committee adopted a substitute and two technical amendments to House Bill 86, a proposal to create a donor credit program to channel private donations to eligible rural hospitals, and voted to give the bill a favorable report.
Representative Collins presented a substitute for House Bill 86 to create a donor-credit program intended to support rural hospitals. The committee adopted two technical amendments from Revenue and Utilities and approved the bill as amended by voice vote.
Under the substitute described in committee, the bill would create a rural hospital development board (the sponsor said nine members in the substitute) to establish eligibility and participation rules. The substitute would permit taxpayers to claim state income tax credits, financial institution excise tax credits, insurance premium tax credits or utility tax credits for qualified donations to eligible rural hospitals. Credits are not transferable or refundable but may be carried forward for three consecutive years, the sponsor said.
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