SENATE DOCKET, NO. 2602        FILED ON: 4/26/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2484

The Commonwealth of Massachusetts

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PRESENTED BY:

Patrick M. O'Connor

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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 relative to third party settlement organizations.

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PETITION OF:

SENATE DOCKET, NO. 2602        FILED ON: 4/26/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2484

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 relative to third party settlement organizations.

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. The department of revenue shall promulgate new regulations requiring third party settlement organizations, as defined in 830 CMR 62C.8.1, to report the net amount paid in settlement to a payee with a Massachusetts address in a calendar year when such amount is $10,000 or greater, irrespective of the number of transactions between the third party settlement organization and the payee.

SECTION 2. The department shall strike any regulations from the Code that contradict with the provisions of Section 1 of this Act.