Bill
Bill > S1959
MA S1959
Relative to adopting the new market tax credits program for Massachusetts
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 to adopt the new market tax credits program for Massachusetts. Revenue.
AI Summary
This bill authorizes and directs the Joint Committee on Economic Development and Emerging Technologies to study the benefits of establishing a New Markets Tax Credit (NMTC) program in Massachusetts similar to the existing federal NMTC program. The study will evaluate the potential benefits of a Massachusetts NMTC program, which would enable participating community development entities to make business loans and other investments in low-income community businesses to promote job creation and other positive community impacts. The study will review the success of similar state NMTC programs in other states and evaluate how a Massachusetts NMTC program would attract private capital and promote economic development in the state's low-income communities.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see S2743 (on 03/10/2022)
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/S1959 |
| Bill | https://malegislature.gov/Bills/192/S1959.pdf |
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