MA S1494

Bill

Regarding state income tax credit for renting unsubsidized properties at below market rents

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation regarding state income tax credit for renting unsubsidized properties at below market rents. Revenue.

AI Summary

This bill proposes to create a state income tax credit for Massachusetts residents who own unsubsidized two to four-unit residential rental properties and rent those units to tenants at or below the High HOME Rent as defined by the United States Department of Housing and Urban Development (HUD). The credit would be up to $1,500 per qualified rental unit, with a maximum of six units per taxpayer. The credit can be carried over for up to three years if it exceeds the taxpayer's total tax due in the current year. The bill would take effect for tax years beginning on or after January 1, 2018.

Committee Categories

Budget and Finance

Sponsors (10)

Joseph Boncore (D), Evandro Carvalho (D), Sal DiDomenico (D), Jamie Eldridge (D), Kevin Honan (D), Dan Hunt (D), Jack Lewis (D), Denise Provost (D), Mike Rush (D), Danny Ryan (D),

Last Action

Accompanied a study order, see S2497 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S1494

(11 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1494
Bill	https://malegislature.gov/Bills/190/S1494.pdf

Bill	Bill Name	Last Action	Type
H1485	Relative to adopting the new market tax credits program for Massachusetts	Accompanied a study order, see H4244	Similar To
H1626	Relative to lead abatement	Accompanied S1184	Similar To
S1575	Relative to propane powered vehicle tax credit	Accompanied a study order, see S2497	Similar To
S1589	Establishing a tax credit for child care	Accompanied a study order, see S2497	Similar To
S1590	Establishing a tax credit for individuals paying college tuition	Accompanied a study order, see S2497	Similar To
S1610	To extend the Brownfields tax credit	Accompanied a new draft, see H3851	Similar To
S1611	Expanding the Brownfields tax credit to encourage affordable housing	Accompanied a new draft, see H3851	Similar To
S1636	Relative to a job creation tax credit	Accompanied a study order, see S2497	Similar To
S1637	Relative to the creation of a training tax credit	Accompanied a study order, see S2497	Similar To
S1664	Relative to a small business gas tax credit	Accompanied a study order, see S2497	Similar To
S2497	Order relative to authorizing the joint committee on Revenue to make an investigation and study of certain current Senate documents relative to revenue matters	Reported (in part) by S1507	Replaced by

Bill > S1494

MA S1494

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

bill text

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