HOUSE DOCKET, NO. 1154        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1732

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Martha M. Walz

_________________

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 encourage retirement savings.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Martha M. Walz

8th Suffolk

1/20/2011

Cory Atkins

14th Middlesex

2/3/2011

Linda Campbell

15th Essex

2/2/2011

Thomas P. Conroy

13th Middlesex

2/2/2011

Jonathan Hecht

29th Middlesex

2/3/2011

Steven L. Levy

4th Middlesex

2/1/2011

Carl M. Sciortino, Jr.

34th Middlesex

2/3/2011

Bruce E. Tarr

 

2/3/2011


HOUSE DOCKET, NO. 1154        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1732

By Ms. Walz of Boston, a petition (accompanied by bill, House, No. 1732) of Martha M. Walz and others relative to the taxation of contributions to retirement accounts. Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3612 OF 2009-2010.]

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Eleven

_______________

 

An Act to encourage retirement savings.

 

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to encourage retirement savings, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
 

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 2 of Chapter 62 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by striking subparagraph (D) of paragraph (1) of subsection (d).

SECTION 2. Chapter 62C of the General Laws is hereby amended by inserting after section 87 the following section: 

Section 88. The Department of Revenue shall not assess an individual who is an employee or owner-employee within the meaning of section four hundred and one (c) of the Code and who excluded or deducted elective contributions to plans defined in section four hundred one (k) within the limitations set out in section four hundred and two (g)(1) of the Code for tax years prior to 2009.