Senate Bill 8-96 stated that Palau should take affirmative action to ensure sufficient funding for the 2010 Micronesian Games.
“Not only are the Micronesian Games an important sporting and cultural event, but they provide an excellent opportunity for Palau to see increased revenues from the large number of visitors who will be in attendance. With the importance of this event in mind, the National Government should encourage potential donors to provide funding for the event,” the bill stated.The measure said that donors donating $5,000 should be entitled to a tax refund.Such a donor would be entitled to a tax refund equal to 20 percent of the donation in each tax year following the donation, until the total amount refunded equals the amount of the donation. For example, if a taxpayer donates $5,000 to the 2010 Micronesian Games, that taxpayer would be entitled to a tax refund of $1,000, on taxes paid in each tax year following the donation, until the total amount funded equals the amount donated.
