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MA S2026
Bill
AI Summary
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Imposes an additional 2% tax on net income for financial institutions and publicly held corporations with a compensation ratio exceeding 100:1, effective January 1, 2027
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Defines "compensation ratio" as the greater of CEO pay or highest-paid employee compensation divided by the median compensation of all U.S. employees, including contracted workers
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Applies to publicly held corporations as defined under Section 162(m)(2) of the Internal Revenue Code
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Sponsored by Senator Jason M. Lewis (Fifth Middlesex) and referred to the Revenue Committee
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Similar legislation was filed in the 2023-2024 session as Senate No. 1858
Legislative Description
Relative to excessive executive compensation
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