§7634. Tax rebates, tax credits, or other incentives for donations to local governments

            A. Tax rebates, tax credits, or other tax incentives, all hereafter in this Section referred to as incentives, may be allowed for qualified donations made to a local governmental entity for a qualified project or use subject to the following limitations:

            (1) A donor shall submit to the financial officer designated by the local governmental entity a written report reasonably documenting the cash, equipment, goods, or services donated for a qualified project or use, including supporting documentation deemed necessary by that officer. Prior to the approval of incentives, the officer shall verify the value of the qualified donation.

            (2) The local governmental entity may approve incentives to the donor in an amount as determined by the governing authority of the local governmental entity receiving the donation.

            B.(1) The term "qualified donation" shall mean a donation made to a local governmental entity to assist in a qualified project or use as determined by the governing authority of that local governmental entity. The donation may be in the form of cash, equipment, goods, or services.

            (2) The term "qualified project or use" shall mean a project or use as determined by the local governmental entity.

            (3) The term "incentives" may be applied only to revenue or resources of the local governmental entity.

            C. The local governmental entity shall promulgate such ordinances, rules, and regulations necessary to carry out the purposes of this Chapter.

            D. The provisions of this Chapter shall apply to verified qualified donations made after July 1, 2014.

            Acts 2014, No. 746, §1, eff. June 19, 2014; Acts 2018, No. 513, §1.