HOUSE DOCKET, NO. 2598        FILED ON: 1/17/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2498

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Kevin G. Honan

_________________

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 improving the efficiency of the state low income housing tax credit.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Kevin G. Honan

17th Suffolk

1/17/2019

Brian M. Ashe

2nd Hampden

1/21/2019

Carlos González

10th Hampden

1/17/2019

Patrick Joseph Kearney

4th Plymouth

2/1/2019

Elizabeth A. Malia

11th Suffolk

1/31/2019

David Allen Robertson

19th Middlesex

2/1/2019

José F. Tosado

9th Hampden

2/1/2019

Chynah Tyler

7th Suffolk

2/1/2019


HOUSE DOCKET, NO. 2598        FILED ON: 1/17/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2498

By Mr. Honan of Boston, a petition (accompanied by bill, House, No. 2498) of Kevin G. Honan and others relative to the low income housing tax credit.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act relative to improving the efficiency of the state low income housing 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. Subsection (a) of section 6I of chapter 62 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting before the definition of “Commissioner” the following definition:-

“Allocatee” a taxpayer which is (i) the owner of a qualified Massachusetts project or (ii) has committed to provide funding to a qualified Massachusetts project in an amount commensurate with the allocation of low-income housing tax credit by the department to such taxpayer.

SECTION 2. Paragraph (3) of subsection (b) of said section 6I of said chapter 62 is hereby further amended by inserting before the first sentence the following sentence:-

The department may allocate the low-income housing tax credits pursuant to this section to an allocatee.

SECTION 3. Paragraph (4) of subsection (c) of said section 6I of said chapter 62 is hereby further amended by striking out in lines 140 and 142, as so appearing, the word “owner” and inserting in place thereof, in each instance, the following word:- allocatee.

SECTION 4. Paragraph (1) of subsection (d) of said section 6I of said chapter 62 is hereby further amended by striking out in line 170, as so appearing, the word “owner” and inserting in place thereof, the following word:- allocatee.

SECTION 5. Said Paragraph (1) of said subsection (d) of said section 6I of said chapter 62 is hereby further amended by striking out in line 172, as so appearing, the words “project owner’s” and inserting in place thereof, the following word:- allocatee’s.

SECTION 6. Paragraph (2) of subsection (f) of said section 6I of said chapter 62 is hereby further amended by striking out in lines 197 and 202, as so appearing, the word “owner” and inserting in place thereof, in each instance, the following word:- allocatee.

SECTION 7. Subsection (a) of section 31H of chapter 63 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting before the definition of “Commissioner” the following definition:-

“Allocatee” a taxpayer which is (i) the owner of a qualified Massachusetts project or (ii) has committed to provide funding to a qualified Massachusetts project in an amount commensurate with the allocation of low-income housing tax credit by the department to such taxpayer.

SECTION 8. Paragraph (3) of subsection (b) of said section 31H of said chapter 63 is hereby further amended by inserting before the first sentence the following sentence:-

The department may allocate the low-income housing tax credits pursuant to this section to an allocatee.

SECTION 9. Paragraph (4) of subsection (c) of said section 31H of said chapter 63 is hereby further amended by striking out in lines 143, 144 and 145, as so appearing, the word “owner” and inserting in place thereof, in each instance, the following word:- allocatee.

SECTION 10. Paragraph (1) of subsection (d) of said section 31H of said chapter 63 is hereby further amended by striking out in line 172, as so appearing, the word “owner” and inserting in place thereof, the following word:- allocatee.

SECTION 11. Said Paragraph (1) of said subsection (d) of said section 31H of said chapter 63 is hereby further amended by striking out in line 174, as so appearing, the words “project owner’s” and inserting in place thereof, the following word:- allocatee’s.

SECTION 12. Paragraph (2) of subsection (f) of said section 31H of said chapter 63 is hereby further amended by striking out in lines 200 and 205, as so appearing, the word “owner” and inserting in place thereof, in each instance, the following word:- allocatee.