SENATE DOCKET, NO. 648        FILED ON: 1/18/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1505

The Commonwealth of Massachusetts

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PRESENTED BY:

Cynthia Stone Creem

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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 relative to the "circuit breaker" property tax credit for seniors.

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PETITION OF:

SENATE DOCKET, NO. 648        FILED ON: 1/18/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1505

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1457 OF 2015-2016.]

The Commonwealth of Massachusetts

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In the One Hundred and Ninetieth General Court
(2017-2018)

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An Act relative to the "circuit breaker" property tax credit for seniors.

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 (2) of subsection (k) of section 6 of chapter 62 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out, in line 494,  the figure “10” and inserting in place thereof the following figure:- 8.

SECTION 2.  Said subsection (k) of said section 6 of said chapter 62, as so appearing, is hereby further amended by striking out paragraph (3) and inserting in place thereof the following paragraph:-

(3) The credit shall be available only if the taxpayer’s total income does not exceed $40,000 for a single individual who is not the head of a household, $50,000 for a head of household and $60,000 for spouses filing a joint return.

SECTION 3.  Said subsection (k) of said section 6 of said chapter 62, as so appearing, is hereby further amended by striking out paragraph (4) and inserting in place thereof the following paragraph:-

(4) For a taxable year beginning on or after January 1, 2005, the income and credit limits in this subsection shall be increased by amounts equal to such income and credit limits multiplied by the cost-of-living adjustment for the calendar year in which such taxable year begins. If any such increase in an income limit is not a multiple of $1,000, such increase shall be rounded to the next lowest multiple of $1,000. If the increase in the credit limit is not a multiple of $10, such increase shall be rounded to the next lowest multiple of $10.