SECTION 1. Subparagraph (7) of paragraph (a) of part B of Section 3 of chapter 62 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting in line 78 after the figure “2002” the following:
“and may not exceed a total of $7,400 if there is one qualifying individual with respect to the taxpayer, or $12,300 if there are two or more qualifying individuals with respect to the taxpayer for taxable years beginning on or after January 1, 2016 .
SECTION 2. Subparagraph (8) of paragraph (a) of part B of said section 3 of said chapter 62 of the General Laws, as so appearing, is hereby amended by adding the following sentence:- "If the taxpayer is a single person with adjusted gross income of not more than $45,000 or joint filers with adjusted gross income of not more than $75,000, the deduction available under this section shall be $4,300 if there is 1 dependent with respect to the taxpayer, or $8,600 if there are 2 or more such dependents with respect to the taxpayer."
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