BillTrack50 logo
Free Signup Login
Bill

Bill > H2953

MA H2953

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

summary

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 the calculation of gross taxable income to provide financial relief to small businesses during the COVID-19 pandemic. Revenue.

AI Summary

This bill aims to provide financial relief to small businesses during the COVID-19 pandemic by amending the Massachusetts General Laws to exclude from gross taxable income the amount that would otherwise be included due to the forgiveness of certain loans provided under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. Specifically, the bill seeks to exclude from state income taxes the amount forgiven for eligible recipients of the Paycheck Protection Program loans established by the CARES Act.

Committee Categories

Budget and Finance

Sponsors (48)

Brad Jones (R)*,  Mike Soter (R)*,  Brian Ashe (D),  John Barrett (D),  Jay Barrows (R),  Nick Boldyga (R),  Michael Brady (D),  Linda Campbell (D),  Tackey Chan (D),  Michelle Ciccolo (D),  Angelo D'Emilia (R),  David DeCoste (R),  Sal DiDomenico (D),  Shawn Dooley (R),  Peter Durant (R),  Kim Ferguson (R),  Paul Frost (R),  Carmine Gentile (D),  Susan Gifford (R),  Anne Gobi (D),  Jim Hawkins (D),  Chris Hendricks (D),  Bradford Hill (R),  Steven Howitt (R),  Hannah Kane (R),  John Lawn (D),  Kate Lipper-Garabedian (D),  Joe McKenna (R),  Paul McMurtry (D),  Christina Minicucci (D),  Leonard Mirra (R),  Dave Muradian (R),  Matt Muratore (R),  Brian Murray (D),  Norm Orrall (R),  Kelly Pease (R),  Angelo Puppolo (D),  John Rogers (D),  Jeff Roy (D),  Adam Scanlon (D),  Paul Schmid (D),  Todd Smola (R),  Alyson Sullivan (R),  Dave Vieira (R),  Timothy Whelan (R),  Donald Wong (R),  Steve Xiarhos (R),  Jon Zlotnik (D), 

Last Action

Accompanied a study order, see H5200 (on 09/08/2022)
(6 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...

bill summary

Document Type Source Location
State Bill Page https://malegislature.gov/Bills/192/H2953
Bill https://malegislature.gov/Bills/192/H2953.pdf
Loading...