Budget Amendment ID: FY2013-S4-9

OTH 9

INCOME TAX REDUCTION

Messrs. Tarr, Knapik and Hedlund moved that the proposed new text be amended by inserting, after section __, the following new section:-

“SECTION__.  Chapter 62 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by striking Section 4(b) in its entirety and inserting in place thereof the following:-

Section 4(b) “Part B taxable income shall be taxed at the rate of 5.3 per cent for tax years beginning on or after January 1, 2002; provided however that Part B taxable income shall be taxed at:

-5.2 per cent for the tax year beginning on January 1, 2013;

-5.1 per cent for the tax year beginning on January 1, 2014; and

-5.0 per cent for tax years beginning on or after January 1, 2015.”