SECTION 1. Section 6 of chapter 62 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting at the end thereof the following new subsection:-

“(u) (1) A taxpayer who donates oyster shells to an oyster shell recycling organization shall be eligible for a credit against the taxes imposed by this chapter. The amount of the credit is equal to one dollar per 5 gallon bucket of oyster shells donated.

(2) The credit allowed under this subsection may not exceed the amount of tax imposed by this chapter for the taxable year reduced by the sum of all credits allowable, except tax payment made by or on behalf of the taxpayer.

(3) Any amount of the credit that exceeds the tax due for a taxable year may be carried forward by the taxpayer to any of the 3 subsequent taxable years.

(4) No deduction is allowed for the donation of oyster shells for which a credit is claimed under this section.

(5) To support the credit allowed by this section, the taxpayer shall have available for inspection a certification by the recipient organization stating the number of five gallon buckets of oyster shells donated by the taxpayer for the taxable year in which the credit is claimed.”

SECTION 2. Chapter 63 of the General Laws, as so appearing, is hereby amended by inserting after section 38FF the following new section:-

“Section 38GG. (a) A corporation subject to tax under this chapter that donates oyster shells to an oyster shell recycling organization shall be eligible for a credit against its excise due under this chapter. The amount of the credit is equal to one dollar per 5 gallon bucket of oyster shells donated.

(b) Any amount of the credit that exceeds the tax due for a taxable year may be carried forward by the corporation to any of the 3 subsequent taxable years.

(c) No deduction is allowed for the donation of oyster shells for which a credit is claimed under this section.

(d) The credit allowed in this chapter for any taxable year shall not reduce the excise to less than the amount due under subsection (b) of section 39, section 67 or any other applicable section.

(e) To support the credit allowed by this section, the corporation shall have available for inspection a certification by the recipient organization stating the number of five gallon buckets of oyster shells donated by the taxpayer for the taxable year in which the credit is claimed.”