summary
Introduced
01/22/2019
01/22/2019
In Committee
02/27/2020
02/27/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to attract capital investment to businesses in rural areas. Revenue.
AI Summary
This bill establishes the Massachusetts Rural Jobs Act to attract capital investment to businesses in rural areas of the commonwealth. The bill creates a tax credit program administered by the Massachusetts Office of Business Development (MOBD) that allows taxpayers who make "credit-eligible capital contributions" to certified "rural growth funds" to claim nonrefundable tax credits. The rural growth funds are required to invest the capital in "rural business concerns" located in rural areas, defined as municipalities with population densities less than 500 residents per square mile. The bill imposes reporting and oversight requirements on the rural growth funds and provides for the potential recapture of tax credits if the funds do not meet certain investment and job creation targets.
Committee Categories
Budget and Finance
Sponsors (21)
John Barrett (D),
Natalie Blais (D),
Michael Brady (D),
Michelle Ciccolo (D),
Jo Comerford (D),
Marjorie Decker (D),
Mindy Domb (D),
Tricia Farley-Bouvier (D),
Denise Garlick (D),
Carmine Gentile (D),
Susan Gifford (R),
Anne Gobi (D),
Carlos González (D),
Steven Howitt (R),
Patrick Kearney (D),
Mary Keefe (D),
Paul Mark (D),
Norm Orrall (R),
Denise Provost (D),
Dave Rogers (D),
Bud Williams (D),
Last Action
Bill reported favorably by committee and referred to the committee on House Ways and Means (on 02/27/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2408 | 02/27/2019 |
| Bill | https://malegislature.gov/Bills/191/H2408.pdf | 02/27/2019 |
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