Pregnancy Resource Act provides $3.5M tax credit to help pregnancy resource centers
Pregnancy resource centers across Mississippi will now be able to expand services to families all across the state with the passage of the Pregnancy Resource Act.
The act provides a $3.5 million tax credit to help pregnancy resource centers meet the needs of their communities. It’s a dollar-for-dollar credit set at 50 percent of the taxpayer’s state income tax liability.
According to the National Council of Nonprofits, tax incentives for charitable giving generates as much as a five to one return.
The revenue offset by this program could produce as much as $17.5 million in donations and services to women and children. Pro-Life Mississippi President Laura Knight said, “Pregnancy resource centers serve thousands of families in Mississippi, offering hundreds of thousands of dollars in high-quality medical care to low-income women all throughout the state. These centers receive no government funding. They are nonprofits that depend on donations from individuals and business owners. This tax credit will encourage local businesses to invest in the work of Mississippi pregnancy centers.”
Mississippi would be the first state in the country to establish such a tax credit.