Committee Hears Testimony on Community Foundation Tax Incentive

Liz Gullett

Committee Hears Testimony on Community Foundation Tax Incentive

Dec 06, 2019

Representative Ryan Berman (R-Commerce Twp.) testified in support of his legislation that creates an income tax credit for donations to community foundations. The proposal, which is part of a bipartisan two-bill package, incentives taxpayers to contribute to worthy charitable causes such as homeless shelters, food banks, and others.

For an individual taxpayer, the credit cannot exceed $100, while the limit rises to $200 for a joint return. The proposal also lays out stipulations for qualifying charities, defining a community foundation as an organization that has been in existence for at least 10 years, has assets of at least $1 million, and supports a broad range of activities in the specific geographic area of the state that it serves. The legislation remains in the House Tax Policy Committee for consideration.

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