Bill > S1922

This bill aims to ease the tax burden on older adults, people with disabilities, and their caregivers. The key provisions include: 1. Establishing a new property tax exemption for qualifying older adult homeowners based on their income and the value of their home. 2. Requiring the Executive Office of Health and Human Services and the Massachusetts Rehabilitation Commission to promote the disability employment tax credit to employers. 3. Increasing the income thresholds for various tax deductions and credits, such as raising the threshold for the deduction for certain dependents from $3,000 to $5,000 and the threshold for the deduction for single filers from $8,000 to $12,550. 4. Increasing the maximum credit amounts for the circuit breaker tax credit and the tax credits for people with disabilities. 5. Providing a new refundable Family Caregiver Tax Credit of up to $1,500 for eligible caregiving expenses. 6. Modifying the state estate tax to provide an exemption for estates valued at $2 million or less. The bill aims to provide tax relief and support for older adults, people with disabilities, and their caregivers.

Budget and Finance

https://malegislature.gov/Bills/193/S1922