New tax credit to benefit MBCH
SPRINGFIELD – Gov. Matt Blunt on June 12 signed legislation strengthening the state’s commitment to ensure a brighter future for some of Missouri’s most vulnerable children.
“It is our responsibility to provide safe and nurturing environments for abused and neglected children,” Blunt said. He noted that residential treatment centers will benefit from the law as they build partnerships.
Senate Bill 614, sponsored by Sen. Bill Stouffer, R-Napton, furthers state assistance for residential care providers such as Missouri Baptist Children’s Home. The legislation creates the Residential Treatment Agency Tax Credit Act. The act allows qualified residential providers to apply for tax credits that they can then pass on to private businesses or individuals in exchange for donations. The law limits the credit available to each provider to 40 percent of funding received from the Department of Social Services in the preceding 12 months and allows those who donate to these providers to receive a tax credit for up to 50 percent of their donation.
Bob Kenison, president of Missouri Baptist Children’s Home said, “We appreciate the work of many of our legislative friends like Sen. Bill Stouffer, Sen. John Loudon and Rep. Jack Jackson. This legislation will enable our donors to direct their state tax dollars to provide care for the most vulnerable children in our state.”