Amendment #1590 to H5500

An Act relative to reducing the income tax to 4.0%

Mr. Lombardo of Billerica moves to amend the bill by adding the following new section:—

SECTION XX:

(a)Section 4 of said chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:-

(b) Part B taxable income shall be taxed at the rate of 4.0 percent.

(b) Subsection (a) of this act shall be effective beginning July 1, 2026.