P.R. Laws tit. 13, § 30210
(a) Amount of the credit.— A tax credit shall be granted against the tax imposed by this part for donations made to foundations of former governors for operating expenses and such expenses relating to the purposes for which they were created and/or those donations made to the Depository for Archives and Memorabilia of Former Governors and Former First Ladies of Puerto Rico established in accordance with the provisions of §§ 1040-1040e of Title 3 alone or in conjunction with public or private higher education institutions in order to defray construction costs or operating expenses and any other action needed to faithfully comply with the purposes of §§ 1040-1040e of Title 3. The amount of said credit shall be one hundred percent (100%) of the amount donated during the taxable year.
(b) This credit shall be in lieu of the deduction for donations granted under § 30135(a)(3) of this title. The amount of the credit that cannot be claimed in the taxable year in which the donation is made may be carried over to subsequent taxable years until used in its entirety.
(c) The tax credits to be granted shall not exceed one million dollars ($1,000,000) in the aggregate for any taxable year.
(d) Verification.— All individuals, corporations, or partnerships that claim the tax credit set forth herein must attach a certification issued by the receiving entity to their income tax return as evidence that the donation was made and accepted.
History —Jan. 31, 2011, No. 1, added as § 1051.10 on Dec. 20, 2012, No. 302, § 2.