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MA S2484

MA S2484
Relative to third party settlement organizations


summary

Introduced
04/29/2021
In Committee
05/20/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to third party settlement organizations. Revenue.

AI Summary

This bill requires third party settlement organizations, which are companies that facilitate the transfer of funds between parties, to report the net amount paid in settlement to a payee with a Massachusetts address in a calendar year when such amount is $10,000 or greater, regardless of the number of transactions between the third party settlement organization and the payee. The bill also directs the Department of Revenue to strike any regulations that contradict the provisions of this bill.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Accompanied a study order, see H5250 (on 10/03/2022)

bill text


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