Amendment #213 to H4100

Income Tax Reduction

Mr. Lombardo of Billerica Moves to amend the bill by inserting, after section XX, the following sections:—

“SECTION AA. Section 4 of said chapter 62 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:-

(b) Part B taxable income shall be taxed at the rate of 5.167 percent.

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

(b) Part B taxable income shall be taxed at the rate of 5.083 percent.

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

(b) Part B taxable income shall be taxed at the rate of 5 percent.

SECTION DD.  Section AA of this act shall be effective only for the taxable year beginning January 1, 2013.

SECTION EE.  Section BB of this act shall be effective only for the taxable year beginning January 1, 2014.

SECTION FF.  Section CC of this act shall be effective for taxable years beginning on or after January 1, 2015.”.