Authorizes a tax credit for certain charitable donations to local hospital foundations

HB 364 allows Missouri residents who donate to qualifying local hospital foundations to claim a state income tax credit equal to 50% of their donation amount, up to a maximum of $2,500 per taxpayer annually. The credit directly affects individual taxpayers who make donations to foundations that are tax-exempt under IRS Section 501(c)(3) and provide financial assistance for unpaid hospital bills in the donor’s area. The program is capped at $2 million in total tax credits per year, is non-refundable but carry-forwardable for three years, and will expire after six years unless renewed by the legislature. This policy reduces state tax liability for qualifying donors while supporting hospitals that assist low-income patients.