Bill
S 424
Overview: S 424, "Charity care deduction", was referred to the Committee on Finance and introduced on February 05, 2025.Purpose and Intent: The bill aims to provide a tax deduction
Overview: S 424, "Charity care deduction", was referred to the Committee on Finance and introduced on February 05, 2025.
Purpose and Intent: The bill aims to provide a tax deduction for charitable contributions made by individuals and businesses to organizations that provide free or discounted healthcare services, known as "charity care".
Key Provisions:
- Allows individuals to deduct charitable contributions to qualified charity care providers from their taxable income
- Extends the same deduction to businesses for their charitable contributions to charity care providers
- Defines "charity care" as the provision of free or discounted healthcare services to individuals who are uninsured or underinsured
Affected Parties and Impacts:
- Individuals and businesses who make charitable contributions to organizations providing charity care
- Uninsured and underinsured individuals who may benefit from increased funding and resources for charity care providers
- Healthcare providers that offer charity care, as the deduction could incentivize more charitable donations
Procedural and Timeline Considerations:
- The bill has been referred to the Committee on Finance and is currently under consideration.
- If passed, the charity care deduction would be available for tax years beginning after the date of enactment.
Compiled from official sources — confirm details with the bill’s official record.
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