Bill > S1826

This bill amends the Massachusetts tax code to provide the following key provisions: 1. It establishes a 5% tax rate on gains from the sale or exchange of capital assets held for 1 year or less, as opposed to the standard 12% rate. 2. It increases the tax credit available to "eligible semiconductor companies" under the Economic Development Incentive Program (EDIP) from 75% to 95% of the excise tax above $25,000. To qualify, a company must establish a new or expanded facility in Massachusetts that creates at least 15 net new jobs by 2029. 3. It requires the Department of Revenue to issue new regulations within 8 months to implement the changes to the EDIP tax credit for eligible semiconductor companies. Overall, the bill aims to incentivize economic development and investment in the semiconductor industry in Massachusetts through targeted tax credits and a lower capital gains rate for short-term investments.

Budget and Finance

https://malegislature.gov/Bills/193/S1826