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MA S1979
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Ryan Fattman
Click for details
AI Summary
- Creates a new tax credit (Section 38NN) for business corporations equal to up to the first $500,000 of revenue earned during the taxable year
- Credit applies against corporate excise tax liability under Chapter 63 of the General Laws
- Credit cannot reduce tax liability below the minimum excise amount required under section 39(b)
- Amends Chapter 63 by inserting the new section after existing section 38HH
- Filed by Senator Ryan C. Fattman (Worcester and Hampden); similar legislation was introduced in the 2023-2024 session as Senate No. 1805
Legislative Description
Stimulating small business investment
Last Action
Hearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium Hearing updated to New End Time
10/3/2025
Committee Referrals
Revenue2/27/2025
Full Bill Text
No bill text available