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MA H3247

Bill

Official Source

Status

Introduced

2/27/2025

Primary Sponsor

Michael Soter

Click for details

Origin

House of Representatives

194th General Court

AI Summary

  • Corporations may deduct 10% of renovation costs for abandoned buildings that are part of certified projects designated under state economic development programs
  • Profits from selling a renovated abandoned building converted to housing would be exempt from corporate net income tax
  • Rental income from abandoned buildings renovated for housing would be exempt from corporate net income tax for 5 years
  • Amends Section 38O of Chapter 63 of Massachusetts General Laws to expand existing tax incentives for abandoned building development

Legislative Description

To promote the development of abandoned buildings

Last Action

Reporting date extended to Wednesday, March 18, 2026

2/25/2026

Committee Referrals

Revenue2/27/2025

Full Bill Text

No bill text available