Bill > H4016

This bill proposes to provide a preferential tax rate to certain public benefit corporations in Massachusetts. To be eligible for the tax rate benefit, a benefit corporation must offer at least 4 of 6 specified employee benefits, including a "living wage" as determined by the MIT Living Wage Calculator, paid parental leave, flexible spending accounts, a CEO-to-lowest paid employee compensation ratio of no greater than 25:1, the option to be governed as an employee cooperative, and profit sharing provisions that return at least 10% of corporate profits to employees. The bill also requires the corporation to receive certification from the Department of Revenue and offer the specified benefits for at least 12 consecutive months prior to claiming the tax rate benefit.

Budget and Finance

https://malegislature.gov/Bills/193/H4016