MA H3129

Creates a new "alignment surtax" of 3.5% on Part C taxable income (long-term capital gains) to bring the long-term rate in line with the short-term capital gains tax rate

Amends Chapter 62 of the General Laws to add the alignment surtax definition and apply it to tax calculations

Directs revenue from the alignment surtax to the same dedicated fund that receives the "millionaire's tax" surtax revenue under the state constitution (education and transportation)

Filed by Representative Tara T. Hong of the 18th Middlesex District on January 16, 2025