An Act establishing a tax exemption for pension income for certain senior citizens of the Commonwealth

This bill creates a tax exemption for certain senior citizens' pension income in Massachusetts. It exempts the first $20,000 of taxable pension income annually, and provides a 100% exemption for taxpayers who have paid tax on pension income for over 20 years. To qualify, individuals must be Massachusetts residents over 65, with income at or below the area median income defined by the Department of Housing and Community Development. The exemption applies directly to eligible senior citizens receiving pension income subject to state tax.