Amendment #480 to H3400

Income Tax Rollback

[Sponsors] Representatives Jones of North Reading, Peterson of Grafton, Hill of Ipswich, Poirier of North Attleboro, and deMacedo of Plymouth move to amend the bill by inserting, after section XX, the following sections: 

“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 July 1, 2012.’

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 July 1, 2013.’

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 July 1, 2014.’

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

SECTION XX. Section AA of this act shall be effective on July 1, 2012.

SECTION XX. Section BB of this act shall be effective on July 1, 2013.

SECTION XX. Section CC of this act shall be effective on July 1, 2014.”.