HOUSE DOCKET, NO. 1849 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 1682
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Brian S. Dempsey
_______________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying:
An Act updating the research and development tax credit.
_______________
PETITION OF:
Name: | District/Address: |
Brian S. Dempsey | 3rd Essex |
Alice Hanlon Peisch | 14th Norfolk |
Michael O. Moore |
[District]
|
Michael R. Knapik |
[District]
|
Jennifer E. Benson | 37th Middlesex |
Nick Collins | 4th Suffolk |
HOUSE DOCKET, NO. 1849 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 1682
By Mr. Dempsey of Haverhill, a petition (accompanied by bill, House, No. 1682) of Brian S. Dempsey and others for legislation to update the research and development tax credit. Revenue. |
The Commonwealth of Massachusetts
An Act updating the research and development tax credit.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 38M(a) of chapter 63 of the General Laws ,as appearing in the 2008 Official Edition, is hereby amended by striking out in line seven the following:-
“base amount”,
SECTION 2. Section 38M(a) of chapter 63 of the General Laws of Massachusetts, as so appearing, is further amended by adding after the second sentence in line 12 the following new sentence:-
The term “base amount” will be defined in the same manner it is defined under section forty-one of said Code as amended and in effect on August twelfth, nineteen hundred and ninety-one, however, the fixed base percentage applied shall not exceed 5 percent.
