Budget Amendment ID: FY2023-S4-785

OTH 785

Competitive Short Term Capital Gains Rate

Messrs. Tarr and O'Connor moved that the proposed new text be amended by inserting after section _ the following:-

"SECTION_. Paragraph (1) of subsection (a) of section 4 of said chapter 62, as so appearing, is hereby amended by inserting, in line 5, after the word 'cent' the following words:- provided, however, that any gain from the sale or exchange of capital assets held for 1 year or less shall be taxed at the rate of 5 per cent."