summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to the estate tax code of the Commonwealth. Revenue.
AI Summary
This bill makes several changes to the Massachusetts estate tax code. It redefines key terms like "Federal Gross Estate," "Massachusetts Gross Estate," and "Massachusetts Taxable Estate." It adjusts the "Basic Exclusion Amount" to $2,750,000 and provides for annual inflation adjustments. The bill also introduces the concept of the "Deceased Spousal Unused Exclusion Amount" that a surviving spouse can claim. Additionally, the bill allows the executor to elect to exclude the value of the decedent's principal residence from the Massachusetts gross estate, subject to certain requirements. Finally, the bill strikes out Section 4(b) and Section 4A of Chapter 65C, which dealt with estate tax credits and deductions.
Committee Categories
Budget and Finance
Sponsors (21)
Shawn Dooley (R)*,
Brian Ashe (D),
Jay Barrows (R),
Donnie Berthiaume (R),
Nick Boldyga (R),
Angelo D'Emilia (R),
David DeCoste (R),
Kim Ferguson (R),
Susan Gifford (R),
Steven Howitt (R),
Brad Jones (R),
Hannah Kane (R),
Marc Lombardo (R),
Joe McKenna (R),
Leonard Mirra (R),
Dave Muradian (R),
Matt Muratore (R),
John Rogers (D),
Mike Soter (R),
Timothy Whelan (R),
Steve Xiarhos (R),
Last Action
Accompanied a new draft, see H4997 (on 07/11/2022)
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/192/H2881 |
| Bill | https://malegislature.gov/Bills/192/H2881.pdf |
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