An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

This bill would impose a 3.5% surtax on long-term investment gains for high-income Massachusetts taxpayers, effectively aligning the tax rate for long-term capital gains with the existing short-term rate. It directly affects individuals with significant investment income who currently pay lower rates on gains from assets held over a year. The key mechanism adds this surtax to "Part C taxable income" calculations under Chapter 62 of Massachusetts law. This policy change modifies tax treatment for investment gains without altering the underlying capital gains definition.