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Bill > H3933
MA H3933
MA H3933Proposal for a legislative amendment to the Constitution An Initiative Petition for an Amendment to the Constitution of the Commonwealth to Provide Resources for Education and Transportation through an additional tax on incomes in excess of One Million Dollars
summary
Introduced
01/07/2016
01/07/2016
In Committee
02/01/2016
02/01/2016
Crossed Over
Passed
Dead
07/31/2016
07/31/2016
Introduced Session
189th General Court
Bill Summary
Initiative petition of Marven-Rhode Hyppolite and others for an initiative amendment to the Constitution to Provide Resources for Education and Transportation through an additional tax on incomes in excess of One Million Dollars (House, No. 3933). Revenue.
AI Summary
This bill proposes an amendment to the Massachusetts Constitution to create a new tax on high earners to fund education and transportation. Specifically, it would add a 4% tax on annual taxable income exceeding $1 million, with this threshold adjusted annually for inflation, similar to how federal income tax brackets are adjusted. The revenue generated from this additional tax would be exclusively dedicated to supporting quality public education, affordable public colleges and universities, and the repair and maintenance of roads, bridges, and public transportation, with these funds being subject to legislative appropriation. This measure is intended to apply to tax years beginning on or after January 1, 2019.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Last Action
Amendment agreed to - see Senate Roll Call #303 [YEAS 33 - NAYS 7] see House Roll Call #253 [YEAS 102 - NAYS 50] (on 05/18/2016)
Official Document
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/189/H3933 |
| Bill | https://malegislature.gov/Bills/189/H3933.pdf |
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