An Act updating and expanding the renter's income tax deduction

HD 3855 increases the maximum renter's income tax deduction from $3,000 to $6,000 for Massachusetts residents. It also creates a new tax credit for renters with adjusted gross income under $50,000, calculated as 5% of 50% of rent paid above $12,000 annually. This credit is capped at $200 for single filers, married couples, or heads of household. The bill directly affects low-to-moderate income renters who pay rent in Massachusetts for their primary residence.