SECTION 1: Paragraph (1) of subsection (d) of section 2 of chapter 62 of the General Laws is hereby amended by repealing clause (D)? as appearing in the 2008 Official Edition, and inserting in place thereof the following section:-
(D) In the case of an individual who is an employee within the meaning of section 401(c)(1) of the Code, the deductions allowed by section 404 of the Code to the extent attributable to contributions made on behalf of such individual, except that deductions attributable to elective contributions made by such individual shall be allowed to the extent they do not exceed the limitation amounts in section 402(g)(1) of the Code. No contribution on behalf of such individual shall be treated as an excess contribution under this chapter unless treated as an excess contribution for federal tax purposes in the year made.
SECTION 2: Section 1 is effective for tax years beginning on January 1, 2008.
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