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.