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
Relative to the taxation of inventory in manufacturing. Revenue.
AI Summary
This bill amends the taxation of inventory in manufacturing in Massachusetts. It provides a phased-in exemption from the tangible property tax for manufacturing corporations, reducing the tax rate from $2.00 per $1,000 of tangible property value in 2014 to $0.00 per $1,000 by 2018. The bill also clarifies the definition of a "manufacturing corporation" for the purposes of this tax exemption, specifying that it applies only to the tangible property held as raw material for manufacturing and situated in Massachusetts.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Accompanied a study order, see H4720 (on 06/12/2024)
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/H2980 |
| BillText | https://malegislature.gov/Bills/193/H2980.pdf |
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