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Bill > H4465

MA H4465

Relative to the conservation land tax credit

summary

Introduced
02/27/2020
In Committee
02/27/2020
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the conservation land tax credit

AI Summary

This bill aims to expand the conservation land tax credit in Massachusetts. Specifically, it: 1. Allows private nonprofit trusts organized for land conservation purposes to qualify for the tax credit, provided they have tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. 2. Increases the annual aggregate cap on the tax credit from $2 million to $3 million in 2020, $4 million in 2021, and $5 million in 2022 and subsequent years. The bill also sets effective dates for the changes, with the initial increase to $3 million taking effect on January 1, 2020, the further increases to $4 million and $5 million taking effect in 2021 and 2022 respectively, and a sunset provision for the increased caps on December 31, 2029.

Committee Categories

Budget and Finance

Sponsors (62)

Jim Arciero (D),  Brian Ashe (D),  John Barrett (D),  Jay Barrows (R),  Jennifer Benson (D),  Natalie Blais (D),  Linda Campbell (D),  Jo Comerford (D),  William Crocker (R),  Josh Cutler (D),  Julian Cyr (D),  Marcos Devers (D),  Diana Dizoglio (D),  Carolyn Dykema (D),  Jamie Eldridge (D),  Kim Ferguson (R),  Dylan Fernandes (D),  Mike Finn (D),  Paul Frost (R),  Denise Garlick (D),  Colleen Garry (D),  Susan Gifford (R),  Anne Gobi (D),  Jim Hawkins (D),  Stephen Hay (D),  Jonathan Hecht (D),  Natalie Higgins (D),  Bradford Hill (R),  Adam Hinds (D),  Kate Hogan (D),  Steven Howitt (R),  Donald Humason (R),  Randy Hunt (R),  Brad Jones (R),  Hannah Kane (R),  James Kelcourse (R),  Kay Khan (D),  Jack Lewis (D),  Joe McKenna (R),  Liz Miranda (D),  Mike Moore (D),  Dave Muradian (R),  Matt Muratore (R),  Brian Murray (D),  Patrick O'Connor (R),  Sarah Peake (D),  Smitty Pignatelli (D),  Elizabeth Poirier (R),  Denise Provost (D),  Maria Robinson (D),  Dave Rogers (D),  Danny Ryan (D),  Paul Schmid (D),  Todd Smola (R),  Mike Soter (R),  Tom Stanley (D),  Bill Straus (D),  Bruce Tarr (R),  Dave Vieira (R),  Tommy Vitolo (D),  Timothy Whelan (R),  Susannah Whipps (I), 

Other Sponsors (1)

Joint Committee on Revenue (J)

Last Action

Bill reported favorably by committee and referred to the committee on House Ways and Means (on 02/27/2020)
(1 Companion Bills)

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Document Type Source Location
State Bill Page https://malegislature.gov/Bills/191/H4465
Bill https://malegislature.gov/Bills/191/H4465.pdf
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