HOUSE DOCKET, NO. 2341 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 2533
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Bradley H. Jones, Jr.
_______________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying:
An Act relative to the equitable deductions tax credit.
_______________
PETITION OF:
Name: | District/Address: |
Bradley H. Jones, Jr. | 20th Middlesex |
Donald F. Humason, Jr. | 4th Hampden |
Marc T. Lombardo | 22nd Middlesex |
F. Jay Barrows | 1st Bristol |
Todd M. Smola | 1st Hampden |
Sheila C. Harrington | 1st Middlesex |
Paul K. Frost | 7th Worcester |
George N. Peterson, Jr. | 9th Worcester |
Elizabeth A. Poirier | 14th Bristol |
Viriato Manuel deMacedo | 1st Plymouth |
HOUSE DOCKET, NO. 2341 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 2533
By Mr. Jones of North Reading, a petition (accompanied by bill, House, No. 2533) of Bradley H. Jones, Jr., and others relative to the equitable deductions tax credit. Revenue. |
The Commonwealth of Massachusetts
An Act relative to the equitable deductions tax credit.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 6 of Chapter 62 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by inserting after subsection (p) the following:--
(q) (1) As used in this subsection, the following words will have the following meanings:-
“Publicly financed entity”, any organization that receives state resourced directly from a state agency or through the General Appropriations act, excluding funds awarded through a grant or non-annual appropriation.
(2) A taxpayer making a donation to a publicly financed entity shall be allowed a credit against the taxes imposed by this chapter. The amount of said credit shall be equal to 50 percent of the value of the donation, not to exceed $10,000.
The appropriation of said publicly financed entity, either in the general appropriations bill or in the budget of the publicly financed entity, shall be reduced by 50 percent of the aggregate donations under this subsection.
