Bill
Bill > H2726
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 exemption of certain private pension income from taxation. Revenue.
AI Summary
This bill proposes to amend the General Laws of Massachusetts to exempt certain private pension income from taxation. Specifically, it would exempt up to $2,000 of pension income for individuals under the age of 60, and up to $12,500 of pension income for individuals 60 and older. The bill also defines "eligible retirement income" to include distributions from qualified retirement plans, 401(k) plans, government deferred compensation plans, as well as dividends, capital gains, interest, and rental income. The bill specifies that for married couples, the eligible retirement income is deemed to be received equally by each spouse.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H4721 (on 06/13/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/H2726 |
| BillText | https://malegislature.gov/Bills/193/H2726.pdf |
Loading...