SENATE DOCKET, NO. 2533        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

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PRESENTED BY:

Paul R. Feeney

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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 establishing the Massachusetts downsizing tax credit.

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PETITION OF:

SENATE DOCKET, NO. 2533        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Fourth General Court
(2025-2026)

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An Act establishing the Massachusetts downsizing 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 3 of chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by adding, in Part B, in subsection (a), the following paragraph:-

(21) In the case of an individual who is an owner of a property, and moves their principal place of residence from within the commonwealth, for which the gross square footage of the new property is at least 50 per cent lesser than the gross square footage of the immediate preceding property, an amount not to exceed $10,000.