MA H2929

Bill

Providing financial relief to small businesses during the COVID-19 pandemic

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to an income tax deduction for the federal paycheck protection program. Revenue.

AI Summary

This bill provides an income tax deduction for Massachusetts residents who received forgiveness on their federal Paycheck Protection Program (PPP) loans during the COVID-19 pandemic. The PPP was a federal program that offered forgivable loans to small businesses to help them maintain their payroll and cover other eligible expenses during the economic disruption caused by the pandemic. By allowing those PPP loan forgiveness amounts to be excluded from state taxable income, this bill aims to provide financial relief to small businesses that relied on the federal assistance program.

Committee Categories

Budget and Finance

Sponsors (2)

Sheila Harrington (R)*, Chris Hendricks (D),

Last Action

Accompanied a study order, see H5043 (on 08/29/2022)

Official Document

https://malegislature.gov/Bills/192/H2929

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2929
Bill	https://malegislature.gov/Bills/192/H2929.pdf

Bill	Bill Name	Last Action	Type
H1150	Reducing the costs for small business	No further action taken	Similar To
H2953	Providing financial relief to small businesses during the COVID-19 pandemic	Accompanied a study order, see H5200	Similar To
H296	Relative to expanding relief to new businesses established during the COVID-19 pandemic	No further action taken	Similar To
H300	Encouraging the growth of small businesses	No further action taken	Similar To
H3025	Providing financial relief to small businesses during the COVID-19 pandemic	Accompanied a study order, see H5245	Similar To
H3096	Providing financial relief to small businesses during the COVID-19 pandemic	Accompanied a study order, see H5245	Similar To
H5043	Revenue	No further action taken	Replaced by
S153	Encouraging the growth of small businesses	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S2051	Reducing the costs for small businesses	Accompanied H3121	Similar To
S2536	Relative to small businesses and the sale of certain cultural products	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > H2929

MA H2929

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary