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Bill > S1508
MA S1508
MA S1508Authorizing tax free contributions to a trust for the care of incapacitated persons
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 authorize tax free contributions to a trust for the care of incapacitated parents or guardians. Revenue.
AI Summary
This bill authorizes tax-free contributions to a supplemental needs trust for the care of a disabled person. A "supplemental needs trust" is a trust used to provide additional funds for goods, services, or a higher quality of care that is not available through publicly funded benefit programs. The bill allows a parent or guardian of a disabled person, as defined in the federal Social Security Act, to contribute up to 10 percent of their gross income to such a trust without being taxed under the state's income tax provisions.
Committee Categories
Budget and Finance
Sponsors (3)
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/S1508 |
| Bill | https://malegislature.gov/Bills/190/S1508.pdf |
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