A bill for an act relating to tax credits by creating the maternity group home and the strong families tax credits available against the individual, corporate, franchise, insurance premium, and moneys and credits taxes, and including applicability provisions.
Subcommittee recommends passage.
Summary
The bill lets Iowa taxpayers claim a credit equal to 100% of cash or non‑cash donations to licensed maternity group homes or to 501(c)(3) organizations that provide case‑management services for at‑risk families. Credits apply against individual, corporate, franchise, insurance‑premium and moneys‑and‑credits taxes, but are non‑refundable and can be carried forward up to five years. The program is limited by annual dollar caps and requires Department of Revenue approval of each application.
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