Budget Amendment ID: FY2012-S3-4

OTH 4

Senior Circuit Breaker Tax Credit

Ms. Fargo moved that the proposed new text be amended by inserting, after Section 152 the following new Section:-

“SECTION 153. Paragraph (2) of subsection (k) of section 6 of chapter 62 of the General Laws, as appearing in the 2008 Official Edition, is amended by inserting after the figure “$750”, as so appearing, at the end of said paragraph, the following words:- ; except, in the event that the taxpayer’s total income does not exceed 50 percent of the income limitation as applicable to the taxpayer under clause (i) of paragraph (3) of this subsection, as increased under paragraph (4) of this subsection, then such amount to which the real estate tax payment or the rent constituting real estate tax payment exceeds the taxpayer’s total income shall be calculated based on 8 ½ percent of such total income."

And further, moved that the bill be amended, by inserting after Section 153, the following new Section:-

"SECTION 154. Section 153 shall take effect as of January 1, 2012.”