Bill to promote philanthropy with public recognition and tax breaks

Automatic summary, not yet reviewed

1. The bill would define patronage (mecenazgo) as private contribution to general interest purposes, preferably cultural, social, sports or scientific, and would count as patronage activities ranging from donations to volunteering, corporate social responsibility, scholarships or grassroots sports.
2. It would create social recognition measures: a National Patronage Award, an annual Patronage Day, a patron recognition card (automatic for companies in the UN Global Compact) and a public registry with voluntary enrollment.
3. It would create an interministerial Patronage Commission, with private sector and civil society representatives, which would draft a National Patronage Strategy approved by the Council of Ministers and ratified by a qualified majority in both chambers.
4. It would raise tax deductions for donations: under personal income taxincome tax The personal income tax (IRPF in Spain): what people pay on what they earn from work, business or savings., 80% on the first 175 euros of the deduction base and 50% on the rest (80% for repeat donors); under corporate tax, 60% (70% for repeat donors).
5. Cash donations to state-owned museums would generate budget credit for the museums' activities, and the Government would have to adapt the rules so museums can receive and manage patronage funds.
6. The law would take effect the day after its publication in the Official State Gazette, except for measures with budget impact, which would wait until the following fiscal year.

Who it affects

• Individuals and companies that donate or volunteer: They could be recognized as patrons, receive a card and apply larger tax deductions.
• Nonprofit entities and other beneficiary entities: They would receive donations eligible for tax deductions.
• State-owned museums: They would have to promote patronage and could receive cash donations that generate budget credit.
• Public administrations: They would have to foster a culture of patronage and support beneficiaries.
• Autonomous Communities (regional governments): They would receive the results of the National Patronage Strategy through sectoral conferences.

Words worth knowing

Mecenazgo (patronage)

Private support, with money or other means, for activities of general interest such as culture, science or sports.

Deducción fiscal (tax deduction)

An amount subtracted from the tax you owe because of an expense or donation.

IRPF (personal income tax)

Spain's personal income tax, paid by individuals on their income.

Micromecenazgo (micro-patronage)

Small cash donations made through participatory platforms, like crowdfunding.

Generación de crédito (budget credit generation)

A budget mechanism that allows money raised for a specific purpose to be spent without waiting for the next budget.

income tax

The personal income tax (IRPF in Spain): what people pay on what they earn from work, business or savings.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries