Amendment #104 to H4461

Tax Credit Repayments

Representatives Nangle of Lowell, Golden of Lowell and Mom of Lowell move to amend the bill by adding at the end the following section:-

SECTION XX.  Subsection (g) of section 38R of chapter 63 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after paragraph (2) the following paragraph:-

(3) If, within 5 years following the expiration of the 5 year period after said final certification, the taxpayer disposes of the taxpayer’s interest in the structure, the taxpayer’s tax for the taxable year in which the disposition occurs shall be increased by 50 per cent of the amount of credit taken by the taxpayer under this section, including any credit transferred by the taxpayer.