MA S1980

Bill

MA S1980

Relative to the Massachusetts Maritime Commercial Development tax credit

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to the Massachusetts Maritime Commercial Development tax credit. Revenue.

AI Summary

This bill creates the Massachusetts Maritime Commercial Development tax credit. It allows a tax credit of up to 25% of qualified expenditures for the construction or rehabilitation of water-dependent commercial or industrial facilities located in Designated Port Areas. The tax credit is available to taxpayers and community development corporations (CDCs) and can be transferred to other individuals or entities. The Secretary of Housing and Economic Development will administer the program and set eligibility criteria, with an annual cap of $50 million in total credits. The bill also includes provisions for recapturing credits if the facility is disposed of or no longer used for the intended purpose.

Committee Categories

Budget and Finance

Sponsors (4)

Bruce Tarr (R)*, Ann-Margaret Ferrante (D), Susan Gifford (R), Susannah Whipps (I),

Last Action

Accompanied a study order, see H5248 (on 10/03/2022)

Official Document

https://malegislature.gov/Bills/192/S1980

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S1980
Bill	https://malegislature.gov/Bills/192/S1980.pdf

Bill	Bill Name	Last Action	Type
H2898	Establishing the Massachusetts Maritime Commercial Development tax credit	Accompanied a study order, see H5250	Similar To
H2979	Establishing the family caregiver tax credit	Accompanied a study order, see H5352	Similar To
H5248	Study Order	No further action taken	Replaced by
S1842	To support voluntary income tax assistance sites and expand access to the earned income tax credit	Accompanied a new draft, see H4997	Similar To
S1852	Providing a guaranteed minimum income to all Massachusetts families	Accompanied a new draft, see H4997	Similar To
S1912	To make childcare and preschool more affordable for working families	Accompanied S1878	Similar To
S1930	Supporting job growth in the Commonwealth	Accompanied a study order, see H5250	Similar To
S1983	Relative to the film tax credit	Accompanied a study order, see H5250	Similar To
S788	To establish the family caregiver tax credit	Accompanied a study order, see H5352	Similar To

Bill > S1980

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

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