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MA S2001
Bill
AI Summary
- Creates a state income tax credit of up to $10,000 for Massachusetts homeowners who downsize their primary residence
- Requires the new property to be at least 50% smaller in gross square footage than the previous home
- Both the old and new residences must be located within Massachusetts
- Amends Section 3 of Chapter 62 of the General Laws by adding the credit to Part B deductions
- Sponsored by Senator Paul R. Feeney (Bristol and Norfolk), filed January 17, 2025
Legislative Description
Establishing the Massachusetts downsizing tax credit
Last Action
Hearing scheduled for 09/15/2025 from 01:00 PM-05:00 PM in A-2
9/4/2025
Committee Referrals
Revenue2/27/2025
Full Bill Text
No bill text available