HOUSE DOCKET, NO. 1849        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1682

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Brian S. Dempsey

_________________

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 updating the research and development tax credit.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Brian S. Dempsey

3rd Essex

1/20/2011

Alice Hanlon Peisch

14th Norfolk

2/4/2011

Michael O. Moore

 

1/26/2011

Michael R. Knapik

 

2/4/2011

Jennifer E. Benson

37th Middlesex

2/4/2011

Nick Collins

4th Suffolk

2/4/2011


HOUSE DOCKET, NO. 1849        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1682

By Mr. Dempsey of Haverhill, a petition (accompanied by bill, House, No. 1682) of Brian S. Dempsey and others for legislation to update the research and development tax credit.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Eleven

_______________

 

An Act updating the research and development tax credit.

 

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 38M(a) of chapter 63 of the General Laws ,as appearing in the 2008 Official Edition,  is hereby amended by striking out  in line seven the following:-

“base amount”,

SECTION 2.  Section 38M(a) of chapter 63 of the General Laws of Massachusetts, as so appearing,  is further amended by adding after the second sentence in line 12 the following new sentence:-

The term “base amount” will be defined in the same manner it is defined under section forty-one of said Code as amended and in effect on August twelfth, nineteen hundred and ninety-one, however, the fixed base percentage applied shall not exceed 5 percent.