MA S1651

Bill

To promote sustainable economic development throughout Massachusetts

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to promote sustainable economic development throughout Massachusetts. Revenue.

AI Summary

This bill proposes to promote sustainable economic development throughout Massachusetts. Key provisions include: 1. Changing the formula for apportioning the net income of financial institutions that have income from business activity both within and outside of Massachusetts, shifting the percentages used for the property, payroll, and receipts factors over several years. 2. Revising the formula for apportioning the net income of businesses other than financial institutions, similarly adjusting the percentages used for the payroll, property, and sales factors over several years. 3. Providing new rules for sourcing sales of intangible property and certain other types of sales, and allowing alternative apportionment methods in certain circumstances. 4. The bill's provisions take effect gradually, with different sections becoming effective in tax years starting in 2021, 2022, 2023, and 2024.

Committee Categories

Budget and Finance

Sponsors (2)

Ryan Fattman (R), Mike Soter (R),

Last Action

Accompanied a study order, see H5040 (on 10/15/2020)

Official Document

https://malegislature.gov/Bills/191/S1651

(13 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S1651
Bill	https://malegislature.gov/Bills/191/S1651.pdf

Bill	Bill Name	Last Action	Type
H3549	To promote economic development and market access for emerging businesses	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H5040	Study Order - Property Taxes	Discharged to the committee on House Rules	Replaced by
S178	To promote economic development and market access for emerging businesses	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S206	Relative to innovative communities	Accompanied a study order, see S2537	Similar To
S2091	To promote and advance motorcycle safety	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S2097	Promoting bicycle safety	Accompanied S2042	Similar To
S216	Relative to promoting local economic development	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S2224	To promote Massachusetts furniture manufacturers	Accompanied a study order, see S2569	Similar To
S230	Relative to economic development and generating revenue	Accompanied a study order, see S2575	Similar To
S232	To promote economic development in the Commonwealth	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S2359	Promoting community immunity	Accompanied a new draft, see S2763	Similar To
S449	Relative to protecting, preserving, and increasing access to family camping	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S95	To promote livable communities	Accompanied a study order, see S2533	Similar To

Bill > S1651

MA S1651

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

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