MA H2442

Bill

Regarding economic development to enable state residents to attract out-of-state businesses through financial incentives

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to creating a tax incentive program for new business growth. Revenue.

AI Summary

This bill directs the Department of Revenue to prepare a feasibility study and draft legislation to create a tax incentive program to encourage Massachusetts residents to attract new businesses to the state. The program would provide tax credits to residents who successfully bring new businesses to Massachusetts, with the credits equal to 20% of the new tax revenue generated in the first year, 10% in the second year, and 5% in the third year. The tax data of the new businesses would be kept confidential to protect the companies. The Department of Revenue is required to submit the report and recommendations to the Joint Committee on Revenue by December 1, 2021.

Committee Categories

Budget and Finance

Sponsors (2)

Dan Donahue (D), Andy Vargas (D),

Last Action

Accompanied a study order, see H5128 (on 11/19/2020)

Official Document

https://malegislature.gov/Bills/191/H2442

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H2442
Bill	https://malegislature.gov/Bills/191/H2442.pdf

Bill	Bill Name	Last Action	Type
H2308	Relative to creditable service for Robert Iantosca, an employee of the Department of Revenue	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2465	Relative to promoting the commonwealth tax incentive	Accompanied a study order, see H5128	Similar To
H2479	Relative to small scale commercial development for gateway cities	Accompanied a study order, see H5128	Similar To
H2598	Relative to equalizing the Department of Revenue interest rates	Accompanied H2512	Similar To
H5128	Study Order - Revenue matters	Discharged to the committee on House Rules	Replaced by
S1671	To ensure timely restitution payments to victims of crime	Accompanied a study order, see S2549	Similar To
S1725	Relative to equalizing the Department of Revenue interest rates	Accompanied H2512	Similar To
S1865	To require periodic regulatory review at the Department of Revenue	Accompanied a study order, see S2569	Similar To
S1928	To equitably support enhanced 911 service	Accompanied a study order, see S2552	Similar To
S702	To establish the family caregiver tax credit	Ought NOT to pass (under Joint Rule 10) and placed in the Orders of the Day for the next session	Similar To

Bill > H2442

MA H2442

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

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