Amendment ID: S3041-404-R1

Redraft Amendment 404

90‑Day Notice to Legislature on Decoupling & Fiscal Impact

Messrs. Tarr and O'Connor move that the proposed new text be amended by inserting after subsection (d) the following:-

"(e)  Notwithstanding any general or special law to the contrary, the commissioner of revenue shall notify the house and senate committees on ways and means, the joint committee on revenue, and the clerks of the house and senate not less than 90 days prior to any determination, action, or effective date that would result in the commonwealth decoupling from any federal tax provision pursuant to this section; provided further, that such notice shall include a detailed estimate of the projected fiscal impact of such decoupling for the current and subsequent fiscal years and an explanation of the methodology used to develop such estimate; and provided further, that no such decoupling shall take effect until the required notice has been submitted.”