Bill > H2519

This bill proposes to amend Chapter 62 of the General Laws to provide an additional income tax exemption of $4,000 for taxpayers who provide more than half of the support for an elderly relative who is at least seventy years old and has lived with the taxpayer for more than six months during the taxable year. There are two separate provisions for this exemption, one in Section 1 with an adjusted gross income limit of $30,000 and another in Section 2 with an adjusted gross income limit of $40,000, both effective for taxable years beginning January 1, 2015, and the commissioner is tasked with adopting necessary rules and regulations.