SENATE DOCKET, NO. 1481 FILED ON: 1/18/2013
SENATE . . . . . . . . . . . . . . No. 182
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The Commonwealth of Massachusetts
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PRESENTED BY:
Michael R. Knapik
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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 providing for a study by the Executive Office of Housing and Economic Development relative to a state new markets tax credit program.
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PETITION OF:
Name: | District/Address: |
Michael R. Knapik | Second Hampden and Hampshire |
SENATE DOCKET, NO. 1481 FILED ON: 1/18/2013
SENATE . . . . . . . . . . . . . . No. 182
By Mr. Knapik, a petition (accompanied by bill, Senate, No. 182) of Michael R. Knapik for legislation for a study by the Executive Office of Housing and Economic Development relative to a state new markets tax credit program. Economic Development and Emerging Technologies. |
The Commonwealth of Massachusetts
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In the Year Two Thousand Thirteen
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An Act providing for a study by the Executive Office of Housing and Economic Development relative to a state new markets tax credit program.
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. That the executive office of housing and economic development shall conduct an investigation and study of the feasibility and benefits of a new markets tax credit program in Massachusetts, similar to the existing federal new markets tax credit program as describe in supplement 5 of title 26 of the United States Code, as appearing in the 2006 Edition. The study shall evaluate the fiscal impacts, the potential for construction, manufacturing, and other full-time jobs, benefits to low-income residents and communities, the potential to attract private capital and promote economic development, and other potential benefits. The study shall review the state new market tax credit programs already in operation.
The secretary shall report to the joint committee on economic development and emerging technologies, the joint committee on revenue, and the house and senate committees on ways and means, the finding and recommendations, if any, together with drafts of legislation necessary to carry the recommendations into effect by filing the same with the clerks of the senate and house of representatives on or before July 1, 2013.