To Create An Income Tax Credit For Contributions To Certain Rural Hospital Organizations; And To Create The Helping Enhance Access To Rural Treatment (heart) Act.
Impact
The bill introduces a structured credit system wherein individuals and corporations can receive tax credits for their contributions to rural hospital organizations. Specifically, the total amount of credits allowed under this provision will not exceed $75 million in a taxable year, with delineated limits on contributions to individual rural hospitals. This structured financial mechanism not only aims to bolster the fiscal health of rural hospitals but also positions the state to play a proactive role in maintaining healthcare accessibility for lower-income populations through targeted funding.
Summary
House Bill 1421, known as the Helping Enhance Access to Rural Treatment (HEART) Act, aims to establish an income tax credit for taxpayers who contribute to certain rural hospital organizations. This legislation primarily targets philanthropic contributions to rural hospitals, which often face significant financial constraints. By offering a tax incentive, the bill encourages individual and corporate donations that can directly support healthcare services in rural areas, ultimately aiming to enhance access to quality medical care in underserved regions.
Contention
While the bill is well-received by proponents who view it as a necessary measure to support rural healthcare, there are concerns about the long-term sustainability of such funding mechanisms. Critics argue that reliance on voluntary donations may not equate to stable funding patterns for essential healthcare services. Furthermore, there may be apprehensions regarding the effectiveness of tax credits as a substitute for direct state healthcare investments, raising questions about potential inequities in healthcare service provision between urban and rural areas.
To Amend The Revenue Stabilization Law; To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts; And To Declare An Emergency.
To Amend The Revenue Stabilization Law; To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts; And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill Amending The Revenue Stabilization Law, Creating Funds, Repealing Funds, And Making Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill Amending The Revenue Stabilization Law, Creating Funds, Repealing Funds, And Making Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law, To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law, To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.
To Create An Income Tax Credit For Contributions To Certain Rural Hospital Organizations; And To Create The Helping Enhance Access To Rural Treatment (heart) Act.
Individual income tax: credit; state historic preservation tax credit program; modify. Amends sec. 266a of 1967 PA 281 (MCL 206.266a). TIE BAR WITH: HB 4503'25
Corporate income tax: credits; state historic preservation tax credit program; modify. Amends sec. 676 of 1967 PA 281 (MCL 206.676). TIE BAR WITH: HB 4504'25