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Bill > S1902


MA S1902

Relative to adopting the new market tax credits program for Massachusetts


summary

Introduced
02/16/2023
In Committee
02/16/2023
Crossed Over
Passed
Dead
12/31/2024

Introduced Session

193rd General Court

Bill Summary

For legislation to adopt the new market tax credits program for Massachusetts. Revenue.

AI Summary

This bill authorizes and directs the Joint Committee on Economic Development and Emerging Technologies to study the benefits of establishing a New Markets Tax Credit (NMTC) program in Massachusetts similar to the existing federal NMTC program. The study will evaluate the potential benefits of a Massachusetts NMTC program, including its ability to enable community development entities to make business loans and investments in low-income communities, create or maintain jobs, provide services and benefits to residents, and generate tax revenue. The study will also review the success of similar state NMTC programs and assess how a Massachusetts program would attract private capital and promote economic development in the state's low-income communities. The study must be completed by July 1, 2024.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Accompanied a study order, see S2656 (on 02/15/2024)

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/193/S1902
BillText https://malegislature.gov/Bills/193/S1902.pdf
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