MA H2506

Bill

Relative to Title 5 income tax credit reform

Introduced
01/22/2019

In Committee
02/27/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to Title V income tax credit reform of financial aid for homeowners who have incurred costs for the repair or replacement of failed septic systems. Revenue.

AI Summary

This bill proposes to amend Section 6(i) of Chapter 62 of the General Laws, which provides an income tax credit for homeowners who have incurred costs for the repair or replacement of failed septic systems. The key provisions are: (1) increasing the maximum credit amount from $15,000 to $25,000; (2) increasing the maximum credit percentage from $1,500 to $4,000; and (3) increasing the maximum total credit available from $6,000 to $10,000. These changes aim to provide more financial assistance to homeowners who have faced costs related to repairing or replacing their septic systems.

Committee Categories

Budget and Finance

Sponsors (7)

Pat Haddad (D), Steven Howitt (R), Randy Hunt (R), Brian Murray (D), Paul Schmid (D), Bruce Tarr (R), Timothy Whelan (R),

Last Action

Bill reported favorably by committee and referred to the committee on House Ways and Means (on 02/27/2020)

Official Document

https://malegislature.gov/Bills/191/H2506

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H2506
Bill	https://malegislature.gov/Bills/191/H2506.pdf

Bill	Bill Name	Last Action	Type
H228	Relative to clarifying homeowners right to perform electrical work	Accompanied a study order, see H5043	Similar To
H2397	Providing an income tax credit for families caring for relatives at home who are elderly or victims of Alzheimer's disease	Accompanied a study order, see H5031	Similar To
H2450	Promoting student loan repayment	Accompanied a study order, see H5040	Similar To
H2456	Encouraging home ownership by establishing a first time home buyers savings account	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2541	To exempt certain veterans from the state tax	Accompanied a study order, see H5128	Similar To
S1615	Relative to the income tax deduction for charitable giving	Accompanied a study order, see H5080	Similar To
S1640	To support voluntary income tax assistance sites and expand access to the earned income tax credit	Accompanied H2434	Similar To
S960	To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses	Accompanied H1413	Similar To

Bill > H2506

MA H2506

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (7)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary