An Act relative to equalizing the Department of Revenue interest rates

This bill amends Massachusetts tax law to standardize the interest rate charged on unpaid state taxes. Currently, the rate is based on the federal short-term rate plus two percentage points, a change that aligns the state's calculation method with federal standards. The law directly affects taxpayers who owe money to the Department of Revenue by ensuring their late fees are computed using this specific formula. By updating the statute, the bill provides a clear, consistent mechanism for calculating interest on delinquent tax payments.