Skip to Content


HOUSE DOCKET, NO. 3235         FILED ON: 1/18/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2487

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

James Arciero

_______________

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 mortgage forgiveness on principal residences.

_______________

PETITION OF:

 

Name:

District/Address:

James Arciero

2nd Middlesex


HOUSE DOCKET, NO. 3235        FILED ON: 1/18/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2487

By Mr. Arciero of Westford, a petition (accompanied by bill, House, No. 2487) of James Arciero for legislation to provide for an income tax deduction on certain principal residence mortgage indebtedness.  Revenue. 


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act relative to mortgage forgiveness on principal residences.
 

              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                 Paragraph (a) of subsection B of section 3 of chapter 62 of the general laws, as appearing in the 2010 Official Edition, is hereby amended by adding the following subparagraph:-

              (16)              Indebtedness discharged as qualified principal residence indebtedness within the meaning of section 108 (a) (1) (E) of the Code.

              SECTION 2              The provisions of subsection (16) shall apply to any indebtedness accrued since 2007.

              SECTION 3               The department of revenue shall promulgate rules and regulation pursuant to the provisions of this act on or before January 1, 2015.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Error