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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 adoption of the accompanying bill:

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
 

_______________

In the Year Two Thousand Eleven

_______________

 

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.

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