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 invest in our communities and tax exemptions. Revenue.
AI Summary
This bill proposes to amend the Massachusetts General Laws to increase personal income tax exemptions and adjust tax rates for various types of income. Specifically, it increases the personal exemption amounts for individuals, married couples, and those who are 65 or older or disabled. It also adjusts the tax rates for capital gains, interest and dividends, Part B taxable income, and Part C taxable income, with a lower 3% rate for certain qualified small business stock investments held for 3 years or more. These changes are intended to invest in and support communities across the state.
Committee Categories
Budget and Finance
Sponsors (4)
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/S1608 |
| Bill | https://malegislature.gov/Bills/191/S1608.pdf |
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