5096-S AMS FORT S1843.3

SSB 5096 - S AMD TO S AMD (S-1657.6/21) 404

By Senator Fortunato

NOT ADOPTED 03/06/2021

On page 7, after line 37, insert the following:

"NEW SECTION. Sec. 108. In computing the tax under this chapter for a taxable year, a taxpayer may deduct from the measure of tax the entire amount donated by the taxpayer during the same taxable year to a nonprofit organization engaged in services for individuals with disabilities. "Nonprofit organization" means an organization exempt from tax under section 501(c) of the federal internal revenue code, 26 U.S.C. Sec. 501(c)."

Renumber the remaining sections consecutively and correct any internal references accordingly.

EFFECT: Provides a deduction against the capital gains tax for amounts contributed to a nonprofit organization engaged in services for individuals with disabilities.

--- END ---