Senate Bill 135 proposes nonrefundable tax credits for donations to authorized projects of nonprofit entities or municipal agencies providing community services. The credit is limited to donations made to projects or activities designated by a municipal corporation for promoting activities such as neighborhood assistance, job training or education, community services, crime prevention, open space acquisition and similar activities. The credit may be applied against the taxes imposed against financial institutions, insurance companies, and public utilities, as well as the personal income tax and the commercial activity tax. The credit equals sixty percent of the amount of the donation and any portions of the credit that are unused for the year of the donation may be carried back up to two tax years. Finally, the bill includes limits on the total amount of credits that may be issued and to the authorized donations that a single entity may receive during a single tax year.