Bill
Bill > H3096
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 taxation of amounts granted to businesses through the federal CARES Act and Paycheck Protection Program. Revenue.
AI Summary
This bill proposes to exclude from Massachusetts' gross income any amount that would otherwise be included due to the forgiveness of indebtedness for businesses that received loans through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act Paycheck Protection Program. The Paycheck Protection Program provided financial assistance to small businesses affected by the COVID-19 pandemic, and this bill aims to provide tax relief for those businesses by exempting the forgiven loan amounts from state income taxes.
Committee Categories
Budget and Finance
Sponsors (26)
Steve Xiarhos (R)*,
Michael Brady (D),
Angelo D'Emilia (R),
David DeCoste (R),
Ryan Fattman (R),
Chris Hendricks (D),
Vanna Howard (D),
Brad Jones (R),
Mike Kushmerek (D),
John Lawn (D),
Kate Lipper-Garabedian (D),
Marc Lombardo (R),
Elizabeth Malia (D),
Joe McKenna (R),
Paul McMurtry (D),
Susan Moran (D),
Matt Muratore (R),
Brian Murray (D),
Patrick O'Connor (R),
Kelly Pease (R),
John Rogers (D),
Adam Scanlon (D),
Paul Schmid (D),
Alyson Sullivan (R),
Timothy Whelan (R),
Jon Zlotnik (D),
Last Action
Accompanied a study order, see H5245 (on 09/22/2022)
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/H3096 |
| Bill | https://malegislature.gov/Bills/192/H3096.pdf |
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