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HOUSE DOCKET, NO. 2435         FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2610

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Bradley H. Jones, Jr.

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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 the inventory tax.

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PETITION OF:

 

Name:

District/Address:

Bradley H. Jones, Jr.

20th Middlesex

George N. Peterson, Jr.

9th Worcester

Bradford Hill

4th Essex

Elizabeth A. Poirier

14th Bristol

Viriato Manuel deMacedo

1st Plymouth

Donald Humason

 

Paul K. Frost

7th Worcester

Sheila C. Harrington

1st Middlesex

Nicholas A. Boldyga

3rd Hampden

Kimberly N. Ferguson

1st Worcester

Todd M. Smola

1st Hampden

Kevin J. Kuros

8th Worcester

Matthew A. Beaton

11th Worcester


HOUSE DOCKET, NO. 2435        FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2610

By Mr. Jones of North Reading, a petition (accompanied by bill, House, No. 2610) of Bradley H. Jones, Jr. and others for legislation to establish a special commission (including members of the General Court) to study the inventory tax in the Commonwealth.  Revenue. 


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Thirteen

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An Act relative to the inventory tax.
 

              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. (a) Notwithstanding any general or special law to the contrary, there shall be a special commission to study and report on the inventory tax. The commission shall consist of 2 members of the house of representatives, 1 of whom shall be appointed by the speaker of the house, and 1 of whom shall be appointed by the minority leader of the house; 2 members of the senate, 1 of whom shall be appointed by the senate president, and 1 of whom shall be appointed by the minority leader of the senate; 1 representative of the national federation of independent business; 1 representative of the department of revenue; and 1 representative of the massachusetts municipal association. The scope of the commission shall include, but shall not be limited to, studying: the impact of the inventory tax on the state budget and on municipal budgets; the budgetary cost of phasing out or eliminating the inventory tax; the financial and employment impacts on businesses within the commonwealth; a comprehensive review and evaluation of the inventory tax throughout the United States; and the results of reforming, phasing out or eliminating the inventory tax throughout the United States. As used in this section, the term "inventory tax" shall refer collectively to the following: (1) both the tangible property measure and the net-worth measure of the non-income portion of the corporate excise tax, as levied by the department of revenue; and (2) personal property tax, as levied by municipalities within the commonwealth.

(b) The commission shall report the results of its investigation and study and its recommendations by filing the same with the clerk of the senate, the clerk of the house of representatives, the department of revenue, and the joint committee on revenue not later than one year after the first meeting of the commission is convened.

(c) The commission shall conduct its first meeting not later than 60 days after the effective date of this act.

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