HOUSE DOCKET, NO. 3841        FILED ON: 1/18/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2458

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Dylan A. Fernandes

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act to mitigate snowbird relocation.

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PETITION OF:

 

Name:

District/Address:

Dylan A. Fernandes

Barnstable, Dukes and Nantucket

Brian M. Ashe

2nd Hampden

Julian Cyr

Cape and Islands

David F. DeCoste

5th Plymouth

Carolyn C. Dykema

8th Middlesex

Randy Hunt

5th Barnstable


HOUSE DOCKET, NO. 3841        FILED ON: 1/18/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2458

By Mr. Fernandes of Falmouth, a petition (accompanied by bill, House, No. 2458) of Dylan A. Fernandes and others that the Department of Revenue be authorized to develop an updated rate table for calculation of the estate tax.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act to mitigate snowbird relocation.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 3 of chapter 65C of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting, after the word “ninety-six;”, in line 14, the following words:- “two million dollars or less for decedents dying after December thirty-first, two thousand and twenty;” .

SECTION 2. Notwithstanding any general or special law to the contrary, the department of revenue shall develop an updated rate table for calculation of the estate tax under section 2 of chapter 65C. The rates in the updated table shall take into account the exemption allowed under section 3 of said chapter, as most recently amended by this act, and shall make a report to the house and the senate committees on ways and means, no later than May 1, 2020, with recommendations on implementation of: (1) an updated rate table for calculation of the estate tax; and (2) regular increases in the amount of the exemption under section 3 of chapter 65C; provided, however, that the recommended rates must be calculated such that the implementation is revenue neutral.