Amendment #740 to H3400

Capping Pension Income and Deductibility

Mr. Scaccia of Boston moves to amend the bill by adding the following sections:-

“SECTION XX.  Subsection (c) of section 5 of chapter 32 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by adding the following words at the end:-

; provided, however, that the normal yearly amount of the retirement allowance shall not exceed $200,000.”

“SECTION XX.  Subparagraph (E) of paragraph (2) of subsection (a) of section 2 of chapter 62 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by adding the following words at the end:-

; provided, however, this deduction otherwise allowable under this subparagraph attributable to one taxpayer shall not in the aggregate exceed $100,000.