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
For legislation relative to excessive executive compensation. Revenue.
AI Summary
This bill proposes to impose an additional 2% tax on the net income of financial institutions and publicly held corporations in Massachusetts if their "compensation ratio" - the ratio of the CEO or highest paid employee's compensation to the median employee's compensation - exceeds 100. The compensation ratio is defined as the greater of the CEO or highest paid employee's compensation divided by the median compensation of all employees, including contracted workers, in the prior calendar year. This tax would apply to taxable years beginning on or after January 1, 2022.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H5250 (on 10/03/2022)
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/S1907 |
| Bill | https://malegislature.gov/Bills/192/S1907.pdf |
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