HOUSE DOCKET, NO. 2754        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2455

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Antonio F. D. Cabral

_________________

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 the remediation and redevelopment of properties in economically distressed areas.

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PETITION OF:

 

Name:

District/Address:

Antonio F. D. Cabral

13th Bristol


HOUSE DOCKET, NO. 2754        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2455

By Mr. Cabral of New Bedford, a petition (accompanied by bill, House, No. 2455) of Antonio F. D. Cabral relative to taxpayer remediation.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Eighty-Ninth General Court
(2015-2016)

_______________

 

An Act to encourage the remediation and redevelopment of properties in economically distressed areas.

 

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. Subsection (j)(1) of Section 6 of Chapter 62 of the General Laws, as appearing in 2012 official edition, is hereby amended by striking the word “lease” in the first sentence and inserting in place thereof the word, “operates”

SECTION 2. Said Subsection (j)(1) of Section 6 of Chapter 62 is hereby further amended by inserting the following after the word “limitation” at the end of the third sentence:

,or which includes such an activity and use limitation recorded on or after June 20, 2014.

SECTION 3.  Subsection (j)(2) of Section 6 of Chapter 62 of the General Laws as appearing in the 2012 official edition, is hereby amended by striking the first sentence and inserting the following:

If the taxpayer ceases to maintain the remedy operation status or the permanent solution in violation of the Massachusetts Contingency Plan prior to its sale of the property or the termination of its operation of the property, the difference between the credit taken and the credit allowed for maintaining the remedy shall be added back as additional taxes due in the year the taxpayer fails to maintain the remedy operation status or permanent solution.

SECTION 4.  Subsection (a) of Section 38Q of Chapter 63 of the General Laws, as appearing in the most recent edition, is hereby amended by striking the word “lease” in the first sentence and inserting in place thereof the word, “operates”

SECTION 5. Said Subsection (a) of Section 38Q of Chapter 63 is hereby further amended by inserting the following after the word “limitation” at the end of the second sentence:

,or which includes such an activity and use limitation recorded on or after June 20, 2014.

SECTION 6.  Subsection (b) of Section 38Q of Chapter 63 of the General Laws, as appearing in the most recent edition, is hereby amended by striking the first sentence and inserting the following:

If the corporation ceases to maintain the remedy operation status or the permanent solution in violation of said Massachusetts Contingency Plan prior to its sale of the property or the termination of its operation of the property, the difference between the credit taken and the credit allowed for maintaining the remedy shall be added back as additional taxes due in the year the corporation fails to maintain the remedy operation status or permanent solution.