HOUSE DOCKET, NO. 1154 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 1732
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Martha M. Walz
_______________
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 to encourage retirement savings.
_______________
PETITION OF:
Name: | District/Address: |
Martha M. Walz | 8th Suffolk |
Cory Atkins | 14th Middlesex |
Linda Campbell | 15th Essex |
Thomas P. Conroy | 13th Middlesex |
Jonathan Hecht | 29th Middlesex |
Steven L. Levy | 4th Middlesex |
Carl M. Sciortino, Jr. | 34th Middlesex |
Bruce E. Tarr |
[District]
|
HOUSE DOCKET, NO. 1154 FILED ON: 1/20/2011
HOUSE . . . . . . . . . . . . . . . No. 1732
By Ms. Walz of Boston, a petition (accompanied by bill, House, No. 1732) of Martha M. Walz and others relative to the taxation of contributions to retirement accounts. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE
HOUSE
, NO. 3612 OF 2009-2010.]
The Commonwealth of Massachusetts
An Act to encourage retirement savings.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to encourage retirement savings, therefore, it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
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 2 of Chapter 62 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by striking subparagraph (D) of paragraph (1) of subsection (d).
SECTION 2. Chapter 62C of the General Laws is hereby amended by inserting after section 87 the following section:
Section 88. The Department of Revenue shall not assess an individual who is an employee or owner-employee within the meaning of section four hundred and one (c) of the Code and who excluded or deducted elective contributions to plans defined in section four hundred one (k) within the limitations set out in section four hundred and two (g)(1) of the Code for tax years prior to 2009.
