Amendment #92 to H4461

Community Investment Tax Credit

Representatives Peake of Provincetown and Kulik of Worthington move to amend the bill by adding the following sections:

SECTION XX.  Paragraph (4) of subsection (c) of section 6M of chapter 62 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out, in line 155, the words “it has utilized at least 95 per cent of the 3 year total of any prior allocation” and inserting in place thereof the following words:- “the department has determined that it has made satisfactory progress toward utilizing any prior allocation”

SECTION XX.  Paragraph (4) of subsection (c) of section 38EE of chapter 63 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out, in line 141, the words “it has utilized at least 95 per cent of the 3-year total of any prior allocation” and inserting in place thereof the following words:- “the department has determined that it has made satisfactory progress toward utilizing any prior allocation”