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 promote high-tech job growth in gateway cities. Revenue.
AI Summary
This bill aims to promote high-tech job growth in gateway cities, which are defined as municipalities with lower median incomes than the state average. The bill establishes a 10% tax credit for taxpayers who make qualified investments in small Massachusetts-based high-tech businesses located in gateway cities. The credit is capped at $100,000 per year and can be carried forward for use in future years. However, if the business relocates outside the gateway city within three years, the taxpayer must repay the total credits claimed. The bill also requires a review of the effectiveness of the tax credit and any legislative recommendations within three years of its implementation.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
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/S1697 |
| Bill | https://malegislature.gov/Bills/191/S1697.pdf |
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