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 taxable income after the short sale of mortgaged property. Revenue.
AI Summary
This bill aims to exempt from Massachusetts state taxation any deficiency in a mortgage after a short-sale transaction. Under this bill, the outstanding balance on a mortgage that is not covered by the sale of the mortgaged property (known as a "deficiency") would not be considered taxable income for the mortgagor. This change in the tax treatment of short-sale deficiencies is intended to provide relief to homeowners who have experienced financial hardship due to a short-sale of their property.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H4244 (on 02/22/2018)
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/H3312 |
| Bill | https://malegislature.gov/Bills/190/H3312.pdf |
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