summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation relative to low-income housing tax credits. Revenue.
AI Summary
This bill amends the Massachusetts General Laws to make changes to the state's low-income housing tax credit program. Specifically, it increases the annual cap on the amount of tax credits available from $20 million to $20 million, plus an additional $5 million for preserving and improving existing state or federally-assisted housing, as well as any unused or returned credits from previous years. The bill also allows taxpayers to elect to receive the tax credit in a single year, rather than over multiple years, subject to the department's qualified allocation plan. The changes take effect for the tax year beginning January 1, 2018 and expire on December 31, 2025.
Committee Categories
Budget and Finance
Sponsors (9)
Marjorie Decker (D),
Sal DiDomenico (D),
Jamie Eldridge (D),
Jennifer Flanagan (D),
Linda Forry (D),
Kevin Honan (D),
Barbara L'Italien (D),
Jack Lewis (D),
Joan Lovely (D),
Last Action
Accompanied a study order, see S2497 (on 04/30/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/S1531 |
| Bill | https://malegislature.gov/Bills/190/S1531.pdf |
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