Budget Amendment ID: FY2022-S3-148

OTH 148

Tax Expenditure Reforms

Mr. Hinds, Ms. Comerford, Ms. Gobi, Messrs. O'Connor and Gomez and Ms. Rausch moved that the proposed new text be amended by inserting after section 10 the following section:-

“SECTION 10A. Paragraph (2) of subsection (a) of section 2 of chapter 62 of the General Laws, as so appearing, is hereby amended by striking out subparagraph (G).”; and

by inserting after section 14 the following 4 sections:-

“SECTION 14A. Section 6½ of said chapter 62 is hereby repealed.

SECTION 14B. Section 30 of chapter 63 of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by striking out, in lines 27 to 40, inclusive, the words “The commissioner of energy resources may approve United States patents, which have been issued to Massachusetts corporations or applied for by Massachusetts corporations as useful for energy conservation and related purposes or as useful for alternative energy development and related purposes, provided that such patents are determined by said commissioner to be of economic value, practicable, and necessary for the convenience and welfare of the commonwealth and its citizens. Any income received from the sale, lease or other transfer of tangible, intangible, personal or real property or materials manufactured in the commonwealth subject to such patent shall be deducted. Said deduction shall extend for a period no longer than five years from the date of issuance of the United States patent or the date of approval by the commissioner of energy resources, whichever first expires.”.

SECTION 14C. Section 31L of said chapter 63 is hereby repealed.

SECTION 14D. Section 38P of said chapter 63 is hereby repealed.”; and

by inserting after section 60 the following section:-

“SECTION 60A. Sections 10A and 14A to 14D, inclusive, shall take effect for taxable years beginning on or after January 1, 2022.”.