Bill Text: MA H2881 | 2009-2010 | 186th General Court | Introduced
Bill Title: Provide tax credits for the repair or replacement of failed cesspool or septic systems pursuant to Title V, so-called
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 7/22 at 10:00 AM in Hearing Room B2 [H2881 Detail]
Download: Massachusetts-2009-H2881-Introduced.html
The Commonwealth of Massachusetts
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PRESENTED BY:
John F. Quinn
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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 bill:
An Act relative to title V tax credits.
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PETITION OF:
|
Name: |
District/Address: |
|
John F. Quinn |
9th Bristol |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 3087 OF 2007-2008.]
The Commonwealth of
Massachusetts
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In the Year Two Thousand and Nine
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An Act relative to title V tax credits.
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. Subsection (i) of
Section 6 of Chapter 62, as appearing in the 2002 Massachusetts General Laws
Official Edition, is hereby amended by striking out the first paragraph and
inserting in place thereof the following:—
Any owner of residential property located in the commonwealth who is not a
dependent of another taxpayer and who occupies said property as his principal
residence, shall be allowed a credit equal to 40 percent of the expenditures
for design and construction expenses for the repair or replacement of a failed
cesspool or septic system pursuant to the provisions of Title V as promulgated
by the department of environmental protection in 1995. Said expenditures shall
be the actual cost of the taxpayer or $15,000, whichever is less; provided,
however, that said credit shall be available to eligible taxpayers beginning in
the tax year in which the repair or replacement of said cesspool or septic
system was completed; and provided, further, that said credit shall not exceed
$1,500 in any tax year and any excess credit may be applied over the following
seven subsequent tax years up to the aggregate maximum of $6,000. The amount of
any such credit shall be reduced by an amount equal to the total interest
subsidy or grant received from the commonwealth, whether directly or
indirectly, toward the cost of said expenditures. The department shall
promulgate such rules and regulations as are necessary to administer the credit
afforded by this subsection, including, but not limited to, a notification
system by the commonwealth to recipients of said interest subsidy or grant of
the amount of the total subsidy provided by the commonwealth.
