SECTION 1. Section 6 of Chapter 62 of the General Laws, as most recently amended by chapter 65 of the acts of 2011, is hereby further amended by inserting, after subsection (r), the following new subsection:-
(s) (1) As used in this subsection, the following words shall have the following meanings:-
"Publicly financed entity", any organization that receives state resources 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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