HOUSE DOCKET, NO. 2354        FILED ON: 2/17/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3035

The Commonwealth of Massachusetts

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PRESENTED BY:

Alice Hanlon Peisch

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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 to continue tax basis rules for property acquired from decedents.

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PETITION OF:

HOUSE DOCKET, NO. 2354        FILED ON: 2/17/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3035

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Second General Court
(2021-2022)

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An Act to continue tax basis rules for property acquired from decedents.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Subclause (C) of paragraph (2) of subsection (b) of section 6F of chapter 62 of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by adding the following sentence:-

In the case of a decedent dying after December 31, 2009 and before January 1, 2011, for property acquired from said decedent within the meaning of section one thousand and fourteen (b) of the Code, the initial basis of such property shall be determined under section one thousand and fourteen of the Code, without reference to sections one thousand fourteen (d) and (f) of the Code; except that in the case of an election by the executor pursuant to § 301(c) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312), the initial basis of property acquired from said decedent shall be determined under section one thousand and twenty two of the Code as amended and in effect on January 1, 2005.