Budget Amendment ID: FY2023-S4-792

OTH 792

Capital Gains

Mr. O'Connor moved that the proposed new text be amended by inserting the following section:-

SECTION XX. 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.