Pauls Valley, OK, Pauls Valley Daily Democrat - Paddack, Hilliard bill encourages charitable giving: "Paddack, Hilliard bill encourages charitable giving
Legislation to encourage charitable contributions to community service organizations recently won unanimous approval in the House Tax and Revenue Committee.
Senate Bill 1537, by State Rep. Wes Hilliard and State Sen. Susan Paddack (D-Ada), creates a community development tax credit to encourage citizens to invest in organizations that are committed to strengthening their communities.
Under the bill, corporations or individuals located in rural areas of Oklahoma-those areas that have a population of 15,000 or less receive a 70 percent tax credit based on the total amount given and corporations or individuals located in an urban are will receive a 50 percent tax credit.
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