Bill > S1553

This bill promotes conservation by allowing individuals and corporations to receive tax credits for donating oyster shells to an oyster shell recycling organization. For individuals, this means a credit of one dollar for every five-gallon bucket of oyster shells donated, which can be carried forward for up to three years if it exceeds the tax owed for that year, and no deduction can be claimed for shells that receive a credit. Corporations also receive a similar credit, with the same carry-forward provision and prohibition on deductions, though the credit cannot reduce their excise tax below certain minimums. To claim these credits, taxpayers must have certification from the recycling organization detailing the number of buckets donated.