STATEHOUSE – State Representative Milo Smith (R-Columbus) sponsored Senate Bill (SB) 317 which defines an "eligible community foundation" for state income tax purposes. The bill passed out of the House unanimously.
The definition requires a community foundation to support a broad range of charitable activities and for it to be independent, nonreligious charitable institution with separate donors.
“I believe the legislation will provide Hoosiers with a greater level of confidence in the organization they are donating to,” said Rep. Smith. “This bill will ensure that charitable organizations must be considered community foundations in order to receive a tax benefit.”
The criteria for community foundation under this bill will be as follows:
Visit iga.in.gov to learn more about SB 317.