Budget & Taxes

introduced · Massachusetts · House

HD 3804: An Act relative to expanding 529 deductions

This bill amends Massachusetts tax law to expand the types of 529 education savings plans eligible for state tax deductions. It removes the restriction that previously limited deductions to plans "established by the commonwealth or an instrumentality of the commonwealth," instead allowing deductions for any plan authorized under federal U.S.C. § 529. This change directly affects Massachusetts residents who contribute to 529 plans, as it now includes federally authorized plans (not just state-run ones) in the deduction eligibility. The key mechanism is a specific update to Chapter 62, Section 3 of the General Laws, broadening the definition of qualifying plans under state tax code.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands state tax deductions for 529 plans, providing tax relief to residents saving for education. Directly modifies tax law to increase eligibility.95% confidence

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passed · Massachusetts · Senate Feb 27, 2025

SD 54: An Act relative to providing direct relief to the residents of the commonwealth by increasing the threshold on no tax status

By Mr. Tarr, a petition (accompanied by bill, Senate, No. 2075) of Bruce E. Tarr for legislation relative to provide direct relief to the residents of the commonwealth by increasing the threshold on no tax status. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax threshold for no tax status, providing direct relief to residents by reducing taxable income, aligning with tax relief indicators for lower-income households.95% confidence

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passed · Massachusetts · Senate Feb 27, 2025

SD 1120: An Act relative to the establishment of a means tested senior citizen property tax exemption

By Mr. Velis, a petition (accompanied by bill, Senate, No. 2096) of John C. Velis, Sal N. DiDomenico and Michael O. Moore for legislation to establish a means tested senior citizen property tax exemption. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes means-tested property tax exemption for seniors, providing targeted tax relief for lower-income seniors under revenue framework.95% confidence

Sub-Topics Property Tax Tax Incentives

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passed · Massachusetts · Senate Feb 27, 2025

SD 1684: An Act combating offshore tax avoidance

By Mr. Lewis, a petition (accompanied by bill, Senate, No. 2033) of Jason M. Lewis, Liz Miranda, Paul W. Mark, Carmine Lawrence Gentile and other members of the General Court for legislation to close corporate tax loopholes and create progressive revenue. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses corporate tax loopholes and creates progressive revenue, strengthening tax system and fiscal management per bill summary.95% confidence

Sub-Topics Business Taxes

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introduced · Massachusetts · House

HD 1326: An Act relative to the gradual elimination of the inventory tax

This bill gradually eliminates the inventory tax on business property in Massachusetts. It reduces the tax rate from $2.60 per $100 of inventory value to $0.50 over multiple steps, with final implementation by 2030. The key mechanism shifts the tax from a flat rate to a declining percentage of net income (starting at 9.5% for 2020-2021 and decreasing to 8.0% for 2022+). These changes directly affect businesses that pay the inventory tax, primarily commercial entities holding physical inventory. The phased approach spans from 2026 through 2030, with specific effective dates for each rate reduction step.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reduces business inventory tax rate from $2.60 to $0.50 per $100, providing tax relief and aligning with fiscal responsibility indicators for support.95% confidence

Sub-Topics Business Taxes

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passed · Massachusetts · Senate Feb 27, 2025

SD 1157: An Act relative to the taxation of natural gas infrastructure

By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 2062) of Patrick M. O'Connor for legislation relative to the taxation of natural gas infrastructure. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly addresses taxation of natural gas infrastructure to generate revenue, directly advancing state budget management through tax collection.95% confidence

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passed · Massachusetts · Senate Feb 27, 2025

SD 1302: An Act relative to the exemption of private pension income from taxation

By Mr. Crighton (by request), a petition (accompanied by bill, Senate, No. 1944) of Thomas Egan, for legislation to exempt private pension income from taxation. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts private pension income from tax, providing relief for retirees, aligning with tax relief indicators for support90% confidence

Sub-Topics Pensions

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passed · Massachusetts · Senate Feb 27, 2025

SD 1377: An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

By Mr. Eldridge, a petition (accompanied by bill, Senate, No. 1974) of James B. Eldridge for legislation to align the long-term capital gains tax rate with the short-term capital gains tax rate. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesAligns long-term and short-term capital gains tax rates to generate revenue, closing a disparity favoring high earners per bill summary.90% confidence

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passed · Massachusetts · Senate Feb 27, 2025

SD 951: An Act relative to the state personal income tax for low-income earners

By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1990) of Ryan C. Fattman and Bruce E. Tarr for legislation relative to the state personal income tax for low-income earners. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill targets state personal income tax for low-income earners, providing tax relief which aligns with supporting lower-income tax policies.95% confidence

Sub-Topics Income Tax

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passed · Massachusetts · Senate Feb 27, 2025

SD 579: An Act granting property tax relief to seniors

By Mr. Rush, a petition (accompanied by bill, Senate, No. 2071) of Michael F. Rush and Paul McMurtry for legislation to grant property tax relief to seniors. Revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesGrants property tax relief to seniors, reducing tax burden for fixed-income group per bill title and summary.95% confidence

Sub-Topics Property Tax

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