To promote conservation through oyster shell recycling
Impact
If enacted, S466 would amend Chapters 62 and 63 of the General Laws of Massachusetts regarding tax credits for donations of oyster shells. The tax credits promised in this bill can be carried forward for three subsequent taxable years if they exceed the tax due for the current year. This fiscal incentive is expected to bolster participation in oyster shell recycling programs, thus supporting the broader goals of environmental sustainability and marine ecosystem conservation.
Summary
Senate Bill S466, titled 'An Act to promote conservation through oyster shell recycling', is aimed at encouraging the recycling of oyster shells by offering tax incentives to both individual taxpayers and corporations who participate in this initiative. The bill suggests that taxpayers who donate oyster shells to an appropriate recycling organization will receive a tax credit of five dollars for each five-gallon bucket of shells donated. This credit can significantly offset the tax burden for individuals and corporate entities involved in conservation efforts.
Contention
Proponents of S466 view these tax credits as vital to enhancing conservation efforts and revitalizing marine habitats, as recycled oyster shells can be used to restore reefs and support marine life. Critics, however, may argue about the complexities of effectively managing the donation and recycling processes or question whether the tax credits would provide sufficient motivation to businesses and individuals. Moreover, there could be concerns regarding potential administrative challenges or fiscal impacts on the state budget due to the implementation of these credits.
Similar To
Authorizing the town of Nantucket conservation commission to convey a certain parcel of land situated in the town for purposes of conveyance to the town of Nantucket under the care, custody, management and control of the select board and the town of Nantucket to convey certain land in the town of Nantucket held for open space, passive recreation or conservation purposes to the Nantucket islands land bank for the purposes pursuant to its legislation and/or to the Sconset Trust, Inc. For open space, conservation and passive recreation purposes