Bill
Bill > S1757
MA S1757
Relative to adopting the new market tax credits program for Massachusetts
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 relative to adopting the new market tax credits program for Massachusetts. Revenue.
AI Summary
This bill authorizes and directs the Joint Committee on Economic Development and Emerging Technologies to study the benefits of establishing a New Markets Tax Credit (NMTC) program in Massachusetts, similar to the existing federal NMTC program. The study will evaluate the potential benefits of a Massachusetts NMTC program, such as enabling community development entities to make loans and investments in low-income community businesses, promoting job creation, and generating tax revenue. The study will also review the success of similar state NMTC programs in other states and consider how a Massachusetts NMTC program could attract private capital and promote economic development in the state's low-income communities. The study is required to be completed by July 1, 2020.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see S2549 (on 02/20/2020)
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/S1757 |
| Bill | https://malegislature.gov/Bills/191/S1757.pdf |
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