Bill
Bill > S1902
MA S1902
Relative to adopting the new market tax credits program for Massachusetts
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
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)
Official Document
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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