Budget Amendment ID: FY2012-S3-37

OTH 37

Effective Economic Development and Small Business Assistance

Ms. Chang-Diaz moved that the proposed new text be amended by adding the following new Section:-

SECTION ___.   (A) The definition of "Tangible personal property" in section 1 of chapter 64H of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by adding the following sentence:- A transfer of an interest in an aircraft may be considered a transfer of tangible personal property under rules determined by the commissioner. (B) Section 6 of said chapter 64H, as so appearing, is hereby amended by striking out paragraph (v v). (C) Section 7 of chapter 64I of the General Laws, as so appearing, is hereby amended by striking out paragraph (e). (D) The commissioner of revenue shall annually certify to the comptroller the additional revenues received by the commonwealth as a result of this section, and the comptroller shall transfer that amount to the Massachusetts Growth Capital Corporation. (E) This section shall take effect on August 1, 2011.