SENATE DOCKET, NO. 1212        FILED ON: 1/20/2011

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1483

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Mark C. Montigny

_________________

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 relating to the Massachusetts historical rehabilitation tax credit..

_______________

PETITION OF:

SENATE DOCKET, NO. 1212        FILED ON: 1/20/2011

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1483

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1298 OF 2009-2010.]

The Commonwealth of Massachusetts

_______________

In the Year Two Thousand Eleven

_______________

An Act relating to the Massachusetts historical rehabilitation 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.   Paragraph (b)(1) of sections 22 of Chapter 141 of the Acts of 2003 is hereby amended by striking out the words “an amount not to exceed $10,000,000” and inserting place the following words:- “an amount deemed necessary to fund qualified projects pursuant to 830 CMR 63.38R.1”.

                Section 2.   Paragraph (b)(1) of sections 24 of Chapter 141 of the Acts of 2003 is hereby amended by striking out the words “an amount not to exceed $10,000,000” and inserting place the following words:- “an amount deemed necessary to fund qualified projects pursuant to 830 CMR 63.38R.1 ”.

                Section  3.   Not less than $10,000,000 shall be credited to cities with more than 40,000 inhabitants where: (1) the unemployment rate is at least 1.5 per cent higher than the statewide average; or (2) the median income of the city is 80% or less of the state median income.