SB223 Alabama 2024 Session

Summary

Primary Sponsor

April Weaver Senator

Republican

Session

Regular Session 2024

Title

Rural Hospital Investment Program established, tax credits for donations to rural hospitals authorized

Description

This bill would set up a Rural Hospital Investment Program to function as an institutional conduit for financial support from the public for rural hospitals in the State of Alabama.

This bill would incentivize donations to rural hospitals by creating a tax credit for individuals and entities to offset their state income tax liability.

Qualifying Hospitals would use the gifts to pay for their provision of acute care services to rural populations served by the hospitals. These funds may be used not only for direct care and operational expenses but may include expenditures to maintain or upgrade facilities.

This bill would establish a board within the Office of State Treasurer to determine the eligibility of qualifying rural hospitals to receive donations qualifying for the tax credit and to operate the program with the support of the Department of Revenue.

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Subjects

Health