Bill > H3037

This bill establishes a voluntary tax refund donation program called the Massachusetts Fund for Vulnerable Countries Most Affected by Climate Change (MFVC), which allows Massachusetts taxpayers to contribute all or part of their tax refund to support climate change adaptation efforts in under-developed nations. The fund will specifically further the mission of the United Nations Least Developed Countries Fund (UN LDCF), which helps vulnerable countries adapt to climate change impacts. When taxpayers file their state income tax returns, they will have the option to donate some or all of their refund to this fund, with contributions then being transferred to either the UN LDCF or a qualifying 501(c)(3) non-profit organization that supports the fund's mission. The bill includes comprehensive provisions for managing these tax return-enabled contribution options, such as limiting the total number of such options on tax forms, requiring annual reporting on fund expenditures, mandating periodic audits, and establishing oversight mechanisms to prevent potential waste, fraud, or abuse. These detailed administrative requirements aim to ensure transparency and accountability in how donated funds are used to support climate change adaptation in vulnerable countries.

Budget and Finance

https://malegislature.gov/Bills/194/H3037