Amendment #44 to H4134

Community Investment Tax Credits

Representatives Peake of Provincetown, Rushing of Boston, Moran of Lawrence, Decker of Cambridge, Vieira of Falmouth, Connolly of Cambridge, Barber of Somerville, Crocker of Barnstable, Pignatelli of Lenox, Provost of Somerville, Walsh of Framingham, Chan of Quincy, Hecht of Watertown, Madaro of Boston, Malia of Boston and Scibak of South Hadley moves to amend the bill by adding the following sections:

SECTION X.  Subsection (i) of said section 6M of said chapter 62, as so appearing, is hereby amended by striking out the second sentence and inserting in place thereof the following sentence:-

The total value of the tax credits authorized under this section, together with section 38EE of chapter 63, shall not exceed $3,000,000 in taxable year 2014, $6,000,000 in each of taxable years 2015 to 2018, inclusive, $8,000,000 in each of taxable years 2019 and 2020, $10,000,000 in each of taxable years 2021 and 2022 and $12,000,000 in each of taxable years 2023 to 2025, inclusive.

SECTION XX. Said section 6M of said chapter 62 is hereby repealed.

SECTION XXX: Subsection (i) of said section 38EE of said chapter 63, as so appearing, is hereby amended by striking out the second sentence and inserting in place thereof the following sentence:-

The total value of the tax credits authorized under this section, together with section 6M of chapter 62, shall not exceed $3,000,000 in taxable year 2014, $6,000,000 in each of taxable years 2015 to 2018, inclusive, $8,000,000 in each of taxable years 2019 and 2020, $10,000,000 in each of taxable years 2021 and 2022 and $12,000,000 in each of taxable years 2023 to 2025, inclusive.

SECTION XXXX. Said section 38EE of said chapter 63 is hereby repealed.

SECTION XXXXX. Sections 30, 36 and 98 of chapter 238 of the acts of 2012 are hereby repealed.

SECTION XXXXXX. Sections X, XXX and XXXXX shall take effect upon passage of this act.

SECTION XXXXXXX. Sections XX and XXXX shall take effect on December 31, 2025.

Additional co-sponsor(s) added to Amendment #44, as changed to H4134

Community Investment Tax Credits