Bill
Bill > S1517
MA S1517
Allowing the clawback of Massachusetts historic rehabilitation tax credits
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 to allow the clawback of Massachusetts historic rehabilitation tax credits. Revenue.
AI Summary
This bill allows the clawback of Massachusetts historic rehabilitation tax credits. Specifically, it amends the state's laws to require taxpayers to repay the full amount of the tax credit if they dispose of their interest in a qualified historic structure within 5 years of it receiving final certification and being placed in service. The bill also requires taxpayers to repay the entire recapture amount if they dispose of their interest to an entity that is not required to pay property taxes, even after the 5-year period has ended. This change aims to prevent abuse of the historic rehabilitation tax credit program.
Committee Categories
Budget and Finance
Sponsors (1)
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/S1517 |
| Bill | https://malegislature.gov/Bills/190/S1517.pdf |
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