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Bill > H3933


MA H3933

MA H3933
Proposal 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
In Committee
02/01/2016
Crossed Over
Passed
Dead
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)

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