SENATE DOCKET, NO. 723        FILED ON: 1/15/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1603

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Joseph A. Boncore

_________________

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 landlord tenant tax credits.

_______________

PETITION OF:

 

Name:

District/Address:

 

Joseph A. Boncore

First Suffolk and Middlesex

 

Mike Connolly

26th Middlesex

1/28/2019

Kay Khan

11th Middlesex

1/30/2019

Sal N. DiDomenico

Middlesex and Suffolk

1/31/2019

Brendan P. Crighton

Third Essex

1/31/2019

Mary S. Keefe

15th Worcester

1/31/2019

Diana DiZoglio

First Essex

1/31/2019

Jay D. Livingstone

8th Suffolk

1/31/2019

Michael O. Moore

Second Worcester

2/1/2019

Chynah Tyler

7th Suffolk

2/1/2019

David Biele

4th Suffolk

4/9/2019

Nika C. Elugardo

15th Suffolk

5/6/2019


SENATE DOCKET, NO. 723        FILED ON: 1/15/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1603

By Mr. Boncore, a petition (accompanied by bill, Senate, No. 1603) of Joseph A. Boncore, Mike Connolly, Kay Khan, Sal N. DiDomenico and other members of the General Court for legislation relative to landlord tenant tax credits.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act relative to landlord tenant tax credits.

 

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.  Section 6 of Chapter 62 of the General Laws is hereby amended by inserting after subsection (t) the following subsection:-

(u)(1) As used in this subsection, the following words shall have the following meanings:

“Qualified residential rental property,” any unsubsidized two to four unit residential rental property.

“Qualified rental unit,” a tenant-occupied unit in a qualified residential property with a rent including utilities that does not exceed the High HOME Rent for the jurisdiction as defined by the United States Department of Housing and Urban Development (“HUD”). Units rented to immediate family members or dependents of the owner are not eligible for the credit.

(2) Any Massachusetts resident who is an owner of a qualified residential rental property located in the commonwealth who is not a dependent of another taxpayer shall be allowed a credit of up to $1,500 for each qualified rental unit, but for no more than six units. The credit shall be prorated by the number of months the qualified unit is rented to a qualified household. Joint owners of a residential property shall share any credit available to the property under this subsection in the same proportion as their ownership interest.

Any taxpayer entitled to this credit for any taxable year, the amount of which exceeds his total tax due for the then current taxable year, may carry over the excess amount, as reduced from year to year, and apply it to his tax liability for any one or more of the next succeeding three taxable years; provided, however, that in no taxable year may the amount of the credit allowed exceed the total tax due of the taxpayer for the relevant taxable year.

SECTION 2. This act shall take effect for tax years beginning on or after January 1, 2020.