Further Amendment #480.1 to H3400

Further amendment to #480

[Sponsors] Representative Jones of North Reading moves to further amend amendment #480 by striking the text contained therein and inserting in place thereof the following:-

“SECTION AA. Section 4 of chapter 62 of the General Laws, as appearing in the 2008 official edition, is hereby amended by striking out subsection (b) in its entirety and inserting in place thereof the following subsection:-

‘(b) Part B taxable income shall be taxed at the rate of 5.2 percent for the taxable year beginning January 1, 2013.’

SECTION BB. Section 4 of said chapter 62 of the General Laws, as so appearing, is hereby amended by striking out subsection (b) in its entirety and inserting in place thereof the following subsection:-

‘(b) Part B taxable income shall be taxed at the rate of 5.1 per cent for the taxable year beginning January 1, 2014.’

SECTION CC. Section 4 of said chapter 62 of the General Laws, as so appearing, is hereby amended by striking out subsection (b) in its entirety and inserting in place thereof the following subsection:-

‘(b) Part B taxable income shall be taxed at the rate of 5 per cent for the taxable year beginning January 1, 2015.’

; and, further, by inserting after section XX the following sections:

SECTION XX. Section AA of this act shall be effective on January 1, 2013.

SECTION XX. Section BB of this act shall be effective on January 1, 2014.

SECTION XX. Section CC of this act shall be effective on January 1, 2015.”.