summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to establish an historic building fire prevention tax credit. Revenue.
AI Summary
This bill establishes a historic building fire prevention tax credit. It allows a person, firm, partnership, trust, estate, limited liability company, or other entity subject to income tax in Massachusetts to claim a credit of up to 50% of the costs, with a maximum of $10,000 per taxpayer per fiscal year, for installing a fire protection sprinkler system in a qualified historic structure, as defined in existing law. The Massachusetts Fire Prevention Regulations Board will determine the eligibility criteria for the credit, and the credit can be claimed until 2031. Any unused credit can be carried forward for up to 5 additional tax years.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Accompanied a study order, see H5128 (on 11/19/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2413 |
| Bill | https://malegislature.gov/Bills/191/H2413.pdf |
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