Bill > H2474

This bill enhances the Massachusetts investment tax credit, a tax incentive designed to encourage businesses to invest in the state. Specifically, it amends section 31A of chapter 63 of the General Laws by changing the number "three" to "5" in two subsections, (i) and (j), which likely refers to a percentage or a duration related to the credit. Additionally, it introduces a new subsection (l) that clarifies that these amended provisions, paragraphs (i) and (j), will only apply to tax years starting on or after January 1, 2017, providing a retroactive application for eligible investments made from that date forward.