MA S1555

Bill

Relative to excessive executive compensation

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 relative to excessive executive compensation. Revenue.

AI Summary

This bill aims to address excessive executive compensation by imposing an additional 2% tax on the net income of financial institutions and publicly held corporations whose "compensation ratio" (the ratio of the CEO or highest paid employee's compensation to the median employee compensation) exceeds 100. The bill amends the state's corporate tax laws to include this new provision, which would apply to tax years beginning on or after January 1, 2018.

Committee Categories

Budget and Finance

Sponsors (7)

Marjorie Decker (D), Jamie Eldridge (D), Colleen Garry (D), Mary Keefe (D), Jason Lewis (D), Angelo Scaccia (D), Steve Ultrino (D),

Last Action

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

Official Document

https://malegislature.gov/Bills/190/S1555

(13 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1555
Bill	https://malegislature.gov/Bills/190/S1555.pdf

Bill	Bill Name	Last Action	Type
H1581	Ensuring consistent reimbursement of PILOT funding	Accompanied a study order, see H4244	Similar To
H1613	To reduce taxes generated by charitable raffles and bazaars	Accompanied a study order, see H4244	Similar To
H1640	Relative to regional transportation ballot initiatives	Accompanied S1551	Similar To
H4093	To ensure compliance with federal standards regarding the handling of federal tax information	Accompanied a new draft, see H4441	Similar To
S1514	Relative to taxes due upon the death of active duty personnel and the elderly	Accompanied S1503	Similar To
S1525	Relative to the small commercial tax exemption	Accompanied a study order, see S2497	Similar To
S1598	Reducing senior citizen property taxes	Accompanied a study order, see S2497	Similar To
S1600	Establishing a local option to exempt fishermen from property taxes	Accompanied a study order, see S2497	Similar To
S1631	Granting property tax relief to seniors	Accompanied a study order, see S2497	Similar To
S1640	Relative to corporate excise tax reform	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
S2670	Creating senior tax relief in the town of Carver.	Signed by the Governor, Chapter 299 of the Acts of 2018	Similar To
S911	Relative to public charity executive and board of directors compensation	Accompanied a study order, see S2313	Similar To

Bill

Bill Name

Last Action

Type

H1581

Ensuring consistent reimbursement of PILOT funding

Accompanied a study order, see H4244

Similar To

H1613

To reduce taxes generated by charitable raffles and bazaars

Accompanied a study order, see H4244

Similar To

H1640

Relative to regional transportation ballot initiatives

Accompanied S1551

Similar To

H4093

To ensure compliance with federal standards regarding the handling of federal tax information

Accompanied a new draft, see H4441

Similar To

S1514

Relative to taxes due upon the death of active duty personnel and the elderly

Accompanied S1503

Similar To

S1525

Relative to the small commercial tax exemption