MA S1653

Bill

MA S1653

Stimulating small business investment

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 stimulate small business investment. Revenue.

AI Summary

This bill aims to stimulate small business investment by providing a tax credit to business corporations. Specifically, it would allow a credit against the corporation's tax liability equal to up to the first $500,000 of revenue earned during the taxable year. However, the credit cannot reduce the corporation's excise tax to an amount less than what is due under a separate section of the existing law.

Committee Categories

Budget and Finance

Sponsors (2)

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

Last Action

Accompanied a study order, see H5080 (on 11/02/2020)

Official Document

https://malegislature.gov/Bills/191/S1653

(15 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S1653
Bill	https://malegislature.gov/Bills/191/S1653.pdf

Bill	Bill Name	Last Action	Type
H1122	Relative to capital of credit unions	Accompanied a study order, see H5160	Similar To
H1838	To allow municipalities to invest in credit unions	Discharged to the Joint Committee on Financial Services	Similar To
H2397	Providing an income tax credit for families caring for relatives at home who are elderly or victims of Alzheimer's disease	Accompanied a study order, see H5031	Similar To
H2399	Providing for property tax relief for small business owners	Accompanied a study order, see H5128	Similar To
H2624	Relative to film tax credit transferability	Accompanied a study order, see H5080	Similar To
H2629	Relative to the film tax credit	Accompanied a study order, see H5080	Similar To
H2768	Providing for sustainability and transparency standards by Massachusetts business entities	Accompanied a study order, see H5103	Similar To
H3675	Relative to interstate branching of a credit union and the Massachusetts Credit Union Insurance Corporation	Accompanied a study order, see H5160	Similar To
H5080	Study Order	Discharged to the committee on House Rules	Replaced by
S1706	Relative to extending the wellness program tax credit	Accompanied a study order, see H5080	Similar To
S1723	Relative to the taxation of small business in the Commonwealth	Accompanied a study order, see H5031	Similar To
S2223	To commission a study on small manufacturing businesses in Massachusetts	Accompanied a study order, see S2533	Similar To
S2224	To promote Massachusetts furniture manufacturers	Accompanied a study order, see S2569	Similar To
S2310	Regulating the use of credit reports by employers	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S637	Relative to interstate branching of a credit union and the Massachusetts Credit Union Share Insurance Corporation	Accompanied a study order, see S2543	Similar To

Bill

Bill Name

Last Action

Type

H1122

Relative to capital of credit unions

Accompanied a study order, see H5160

Similar To

H1838

To allow municipalities to invest in credit unions

Discharged to the Joint Committee on Financial Services

Similar To

H2397

Providing an income tax credit for families caring for relatives at home who are elderly or victims of Alzheimer's disease

Accompanied a study order, see H5031

Similar To

H2399

Providing for property tax relief for small business owners

Accompanied a study order, see H5128

Similar To

H2624

Relative to film tax credit transferability

Accompanied a study order, see H5080

Similar To

H2629

Relative to the film tax credit

Accompanied a study order, see H5080

Similar To

H2768

Providing for sustainability and transparency standards by Massachusetts business entities

Accompanied a study order, see H5103

Similar To

H3675

Relative to interstate branching of a credit union and the Massachusetts Credit Union Insurance Corporation

Accompanied a study order, see H5160

Similar To

H5080

Study Order

Discharged to the committee on House Rules

Replaced by

S1706

Relative to extending the wellness program tax credit

Accompanied a study order, see H5080

Similar To

S1723

Relative to the taxation of small business in the Commonwealth

Accompanied a study order, see H5031

Similar To

S2223

To commission a study on small manufacturing businesses in Massachusetts

Accompanied a study order, see S2533

Similar To

S2224

To promote Massachusetts furniture manufacturers

Accompanied a study order, see S2569

Similar To

S2310

Regulating the use of credit reports by employers

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S637

Relative to interstate branching of a credit union and the Massachusetts Credit Union Share Insurance Corporation

Accompanied a study order, see S2543

Similar To

Bill > S1653

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

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