MA H2940

Bill

MA H2940

Regarding state income tax credit for renting unsubsidized properties at below market rents

Introduced
03/29/2021

In Committee
04/07/2022

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to state income tax credit for renting unsubsidized properties at below market rents. Revenue.

AI Summary

This bill proposes a state income tax credit for Massachusetts residents who own unsubsidized, two-to-four-unit residential rental properties and rent units in those properties at or below the High HOME Rent, as defined by the U.S. Department of Housing and Urban Development (HUD). The credit is up to $1,500 per qualified rental unit, for up to six units, and is prorated based on the number of months the unit is rented to a qualified household. The bill also allows taxpayers to carry over any excess credit to the next three taxable years, provided the credit does not exceed the total tax due for the relevant year. The bill is effective for tax years beginning on or after January 1, 2022.

Committee Categories

Budget and Finance

Sponsors (2)

Kevin Honan (D)*, Diana Dizoglio (D),

Last Action

No further action taken (on 01/03/2023)

Official Document

https://malegislature.gov/Bills/192/H2940

(19 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2940
Bill	https://malegislature.gov/Bills/192/H2940.pdf

Bill	Bill Name	Last Action	Type
H1508	Relative to escheat	No further action taken	Similar To
H2820	Providing an income tax credit for families caring for relatives at home who are elderly or victims of Alzheimer's disease	No further action taken	Similar To
H2921	Relative to tax abatement for permanently disabled veterans	No further action taken	Similar To
H3058	To promote water conservation	Accompanied a study order, see H5250	Similar To
H3766	Authorizing the city of Melrose to establish a means tested senior citizen property tax exemption	Signed by the Governor, Chapter 100 of the Acts of 2022	Similar To
H3901	Authorizing the town of Mendon to establish a means-tested senior citizen property tax exemption	Signed by the Governor, Chapter 241 of the Acts of 2022	Similar To
H3989	To give the town of Leicester authority to grant full annual property tax exemptions to the surviving spouse of Rutland Police Detective and Leicester resident John D. Songy	Signed by the Governor, Chapter 225 of the Acts of 2022	Similar To
H4060	Establishing a real property transfer fee in the town of Chatham	No further action taken	Similar To
H4107	Authorizing the town of Lincoln to establish a means tested senior citizen property tax exemption program	Read second and ordered to a third reading	Similar To
H4250	Authorizing the Massachusetts Water Resources Authority to release easements upon certain real property in the town of Canton	Signed by the Governor, Chapter 143 of the Acts of 2022	Similar To
H915	Authorizing the Massachusetts Water Resources Authority to release easements upon certain real property in the town of Canton	New draft substituted, see H4250	Similar To
S1362	Providing a tax exemption for certain qualifying real estate in the town of Hamilton	Signed by the Governor, Chapter 112 of the Acts of 2021	Similar To
S1802	Relative to providing better notices and protections in the process for collecting delinquent property taxes	Accompanied a study order, see H5247	Similar To
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
S1857	To promote sustainable economic development throughout Massachusetts	Accompanied a study order, see H5250	Similar To
S193	Relative to partial payments	Accompanied a new draft, see S2569	Similar To
S2437	Establishing a real estate transfer fee upon the transfer of property in the town of Concord	Read second and ordered to a third reading	Similar To
S2505	Authorizing the town of Wareham to assess certain solar or wind systems as personal property	Read second and ordered to a third reading	Similar To
S2512	Authorizing the town of Andover to establish a means tested senior citizen property tax exemption	Signed by the Governor, Chapter 210 of the Acts of 2022	Similar To

Bill

Bill Name

Last Action

Type

H1508

Relative to escheat

No further action taken

Similar To

H2820

Providing an income tax credit for families caring for relatives at home who are elderly or victims of Alzheimer's disease

No further action taken

Similar To

H2921

Relative to tax abatement for permanently disabled veterans

No further action taken

Similar To

H3058

To promote water conservation

Accompanied a study order, see H5250

Similar To

H3766

Authorizing the city of Melrose to establish a means tested senior citizen property tax exemption

Signed by the Governor, Chapter 100 of the Acts of 2022

Similar To

H3901

Authorizing the town of Mendon to establish a means-tested senior citizen property tax exemption

Signed by the Governor, Chapter 241 of the Acts of 2022

Similar To

H3989

To give the town of Leicester authority to grant full annual property tax exemptions to the surviving spouse of Rutland Police Detective and Leicester resident John D. Songy

Signed by the Governor, Chapter 225 of the Acts of 2022

Similar To

H4060

Establishing a real property transfer fee in the town of Chatham

No further action taken

Similar To

H4107

Authorizing the town of Lincoln to establish a means tested senior citizen property tax exemption program

Read second and ordered to a third reading

Similar To

H4250

Authorizing the Massachusetts Water Resources Authority to release easements upon certain real property in the town of Canton

Signed by the Governor, Chapter 143 of the Acts of 2022

Similar To

H915

Authorizing the Massachusetts Water Resources Authority to release easements upon certain real property in the town of Canton

New draft substituted, see H4250

Similar To

S1362

Providing a tax exemption for certain qualifying real estate in the town of Hamilton

Signed by the Governor, Chapter 112 of the Acts of 2021

Similar To

S1802

Relative to providing better notices and protections in the process for collecting delinquent property taxes

Accompanied a study order, see H5247

Similar To

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

S1857

To promote sustainable economic development throughout Massachusetts

Accompanied a study order, see H5250

Similar To

S193

Relative to partial payments

Accompanied a new draft, see S2569

Similar To

S2437

Establishing a real estate transfer fee upon the transfer of property in the town of Concord

Read second and ordered to a third reading

Similar To

S2505

Authorizing the town of Wareham to assess certain solar or wind systems as personal property

Read second and ordered to a third reading

Similar To

S2512

Authorizing the town of Andover to establish a means tested senior citizen property tax exemption

Signed by the Governor, Chapter 210 of the Acts of 2022

Similar To

Bill > H2940

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary