Amendment #1 to H4508

Good governance and excise tax relief for very small homeowners associations organized as corporations

Mr. Hunt of Sandwich moves to amend the bill by adding the following section:

Section 39 of chapter 63 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting after the word “greater”, in line 12, the following words:- ; and provided, further, that an entity with the definition of, and electing to be treated as a homeowners association under 26 U.S.C. section 528(c), organized under the laws of the commonwealth as a corporation and subject to taxation pursuant to this section shall pay, on account of each taxable year, only the excise provided in subsection (a).