House Passes Tax Credit for Donations Supporting Pregnancy Centers
The Oklahoma House of Representatives today passed a bill to introduce a temporary income tax credit for donations to qualified pregnancy resource centers.
Rep. Cody Maynard, R-Durant, authored House Bill 1788, which would establish an income tax credit equal to 70 percent of a donation amount contributed to pregnancy resource centers until the tax year 2028.
"Our pregnancy resource centers play a crucial role in providing vital services to our communities in Oklahoma," Maynard said. "This new legislation is proactive in promoting a culture that values and safeguards human life. Supporting these centers demonstrates our community's tangible commitment to assisting new mothers and protecting the lives of their unborn children."
The tax credit is limited to $50,000 per taxpayer annually and capped at $5 million in yearly claims. The credit may be claimed beginning tax year 2024 and has a five-year sunset.
Under the measure, the director of the Department of Human Services is required to identify facilities that may qualify as pregnancy resource centers based on a set of criteria.
HB1788 passed the House 76 - 18. The bill passed with its title off, so it will return to the House for another vote after passing in the Senate.