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MA H3144
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Bradley Jones
Click for details
AI Summary
- Amends Chapter 62C of the General Laws to establish equal interest rates between what the Department of Revenue charges taxpayers on underpayments and what it pays taxpayers on refunds
- Requires the state treasurer to pay interest on tax refunds at the same rate established under section 32(a) for underpayments, calculated from the date of overpayment to within 30 days of the refund check date
- Removes a provision from section 37 that currently allows a different (lower) interest rate on refunds compared to the rate charged on unpaid taxes
- Effective date: January 1, 2026
- Sponsored by Rep. Bradley H. Jones Jr. (20th Middlesex) with 4 co-sponsors; similar legislation was filed in the 2023-2024 session as House No. 2845
Legislative Description
Relative to DOR interest rate parity
Last Action
Bill reported favorably by committee and referred to the committee on House Ways and Means
2/26/2026
Committee Referrals
Ways and Means2/26/2026
Revenue2/27/2025
Full Bill Text
No bill text available