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.
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