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MA H3260
Bill
Status
2/27/2025
Primary Sponsor
Chynah Tyler
Click for details
AI Summary
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Provides a state income tax credit for Massachusetts renters who pay more than 30% of their gross income in rent on their principal residence
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Credit percentage varies by income: 100% of excess rent for incomes up to $25,000; 75% for $25,001-$50,000; 50% for $50,001-$75,000; 25% for $75,001-$100,000
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Taxpayers earning over $100,000 (single, head of household, or married filing jointly) receive a maximum deduction of $3,000 instead of the percentage-based credit
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Rent includes utility payments, but eligible rent is capped at 125% of the HUD fair market rent for credit calculation purposes
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Effective for tax years beginning on or after January 1, 2024
Legislative Description
Allowing for a tax credit for rent paid on the personal residence of the taxpayer
Last Action
Reporting date extended to Wednesday, March 18, 2026
2/25/2026