Bill > H3147

This bill modifies the conservation land tax credit in Massachusetts by expanding the types of organizations eligible for the credit and adjusting the maximum credit amount over time. Specifically, the bill adds private nonprofit trusts with tax-exempt 501(c)(3) status that are organized for land conservation purposes to the list of entities that can claim the tax credit. The bill incrementally changes the maximum tax credit amount for both individual income tax (Chapter 62) and corporate income tax (Chapter 63) from $2 million to $3 million in 2026, then to $4 million in 2027, and to $5 million in 2028, before reducing it back to $2 million on December 31, 2035. These changes are designed to encourage land conservation efforts by providing tax incentives to nonprofit organizations dedicated to preserving land, while also creating a structured approach to adjusting the tax credit amount over several years. The bill's provisions will take effect at different times between 2026 and 2035, depending on the specific section of the law being modified.

Budget and Finance

https://malegislature.gov/Bills/194/H3147