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
Relative to the Brownfields tax credit. Revenue.
AI Summary
This bill amends the Brownfields tax credit provisions in the Massachusetts General Laws. The key changes are: (1) expanding the credit to apply to any property the corporation owns, operates, or leases for business purposes (previously limited to property it owned or leased); (2) increasing the maximum credit rate from 40% to 40.0000%; and (3) clarifying that the costs eligible for the credit can include net response and removal costs incurred by the corporation before it first owned, operated, or leased the subject property. These changes aim to provide more favorable tax treatment for corporations involved in the remediation and redevelopment of contaminated "brownfield" properties in the state.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Accompanied a new draft, see H3851 (on 08/03/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://malegislature.gov/Bills/190/H1627 |
Bill | https://malegislature.gov/Bills/190/H1627.pdf |
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