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HOUSE DOCKET, NO. 1849         FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1682

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Brian S. Dempsey

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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 updating the research and development tax credit.

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PETITION OF:

 

Name:

District/Address:

Brian S. Dempsey

3rd Essex

Alice Hanlon Peisch

14th Norfolk

Michael O. Moore

 

Michael R. Knapik

 

Jennifer E. Benson

37th Middlesex

Nick Collins

4th Suffolk


HOUSE DOCKET, NO. 1849        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1682

By Mr. Dempsey of Haverhill, a petition (accompanied by bill, House, No. 1682) of Brian S. Dempsey and others for legislation to update the research and development tax credit.  Revenue.


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Eleven

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An Act updating the research and development 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.                            Section 38M(a) of chapter 63 of the General Laws ,as appearing in the 2008 Official Edition,  is hereby amended by striking out  in line seven the following:-

              “base amount”,

              SECTION 2.  Section 38M(a) of chapter 63 of the General Laws of Massachusetts, as so appearing,  is further amended by adding after the second sentence in line 12 the following new sentence:-

              The term “base amount” will be defined in the same manner it is defined under section forty-one of said Code as amended and in effect on August twelfth, nineteen hundred and ninety-one, however, the fixed base percentage applied shall not exceed 5 percent.

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