HOUSE . . . . . . . . No. 4465
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The Commonwealth of Massachusetts
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HOUSE OF REPRESENTATIVES, February 27, 2020.
The committee on Revenue, to whom were referred the petition (accompanied by bill, Senate, No. 1767) of Bruce E. Tarr, Adam G. Hinds, Joanne M. Comerford, James B. Eldridge and other members of the General Court for legislation to increase the land conservation tax credit, and the petition (accompanied by bill, House, No. 2522) of Bradley H. Jones, Jr., Smitty Pignatelli and others for legislation to increase the limit on tax credits for donations of certified land to public or private conservation agencies, reports recommending that the accompanying bill (House, No. 4465) ought to pass.
For the committee,
MARK J. CUSACK.
FILED ON: 2/5/2020
HOUSE . . . . . . . . . . . . . . . No. 4465
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The Commonwealth of Massachusetts
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In the One Hundred and Ninety-First General Court
(2019-2020)
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An Act relative to the conservation land 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 (p) of section 6 of chapter 62 of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by adding, in line 769, after the words “as amended” the following words:- “, or private nonprofit trust compliant with chapter 203 organized for the purposes of land conservation, which is authorized to do business in the commonwealth, and which has tax-exempt status as a nonprofit charitable organization as described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
SECTION 2. Said subsection (p) of said section 6 of said chapter 62, as so appearing, is hereby amended by striking out, in line 835, the figure “$2,000,000” and inserting in place thereof the following figure:- “$3,000,000”.
SECTION 3. Said subsection (p) of said section 6 of said chapter 62, as so appearing, is hereby amended by striking out, in line 835, the figure “$3,000,000” and inserting in place thereof the following figure:- “$4,000,000”.
SECTION 4. Said subsection (p) of said section 6 of said chapter 62, as so appearing, is hereby amended by striking out, in line835, the figure “$4,000,000”and inserting in place thereof the following figure:- “$5,000,000”.
SECTION 5. Section 38AA of chapter 63, as so appearing, is hereby amended by adding, in line 29, after the words “as amended” the following words:- , or a private nonprofit trust compliant with chapter 203 organized for the purposes of land conservation, which is authorized to do business in the commonwealth, and which has tax-exempt status as a nonprofit charitable organization as described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
SECTION 6. Said section 38AA of said chapter 63, as so appearing, is hereby amended by striking out, in line 88, the figure “$2,000,000” and inserting in place thereof the following figure:- “$3,000,000”.
SECTION 7. Said section 38AA of said chapter 63, as so appearing, is hereby amended by striking out, in line 88, the figure “$3,000,000” and inserting in place thereof the following figure:- “$4,000,000”.
SECTION 8. Said section 38AA of said chapter 63, as so appearing, is hereby amended by striking out, in line 88, the figure “$4,000,000” and inserting in place thereof the following figure:- “$5,000,000”.
SECTION 9. Sections 2 and 6 shall take effect on January 1, 2020.
SECTION 10. Sections 3 and 7 shall take effect on January 1, 2021.
SECTION 11. Sections 4 and 8 shall take effect on January 1, 2022.
SECTION 12.. Sections 2, 3, 4, 6, 7, and 8 of this act shall expire on December 31, 2029.