FIRST REGULAR SESSION
92ND GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES RUPP, BRUNS, DAVIS (19), SCHNEIDER, DEMPSEY,
AVERY (Co-sponsors), NIEVES AND THRELKELD.
Read 1st time March 12, 2003, and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To amend chapter 135, RSMo, by adding thereto one new section relating to a tax credit for time and services volunteered by doctors and dentists.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.640, to read as follows:
135.640. 1. For all tax years beginning on or after January 1, 2004, any physician or dentist licensed in this state who volunteers time, expertise, or professional services to individuals without medical insurance coverage may claim a credit against the tax otherwise due pursuant to chapter 143, RSMo, other than taxes withheld pursuant to sections 143.191 to 143.265, RSMo, in an amount equal to the fair market value of the time, expertise, or professional services rendered during the tax year for which the credit is claimed. The amount of the tax credit claimed shall not exceed the amount of the taxpayer's state tax liability for the tax year that the credit is claimed, and no taxpayer shall claim a tax credit in excess of three thousand five hundred dollars per tax year.
2. The director of revenue is authorized to promulgate rules and regulations to administer this section. Any rules and regulations promulgated shall include procedures by which taxpayers can claim the tax credit pursuant to this section and by which any nonprofit organization can provide the taxpayer with an itemized receipt determining the fair market value of the time, expertise, or professional services rendered to individuals without medical insurance coverage. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to chapter 536, RSMo.