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MA H3048

Bill

Official Source

Status

Introduced

2/27/2025

Primary Sponsor

Tackey Chan

Click for details

Origin

House of Representatives

194th General Court

AI Summary

  • Establishes a $500 deduction for interest and dividends from savings accounts for single filers, heads of household, and married individuals filing separately
  • Provides a $1,000 deduction for married couples filing jointly for interest and dividends from savings deposits, savings accounts, and share savings accounts
  • Amends Section 3 of Chapter 62 of the Massachusetts General Laws by replacing subparagraph (6) of paragraph (a) of subsection B
  • Similar legislation was previously filed as House No. 3882 in the 2023-2024 legislative session

Legislative Description

Relative to increasing interest rate deductions

Last Action

Reporting date extended to Wednesday, March 18, 2026

2/17/2026

Committee Referrals

Revenue2/27/2025

Full Bill Text

No bill text available