Bill Text: MA H3963 | 2009-2010 | 186th General Court | Introduced
Bill Title: Place certain collections under the capital gains taxes in the Stabilization Fund of the Commonwealth
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 7/22 at 10:00 AM in Hearing Room B2 [H3963 Detail]
Download: Massachusetts-2009-H3963-Introduced.html
The Commonwealth of Massachusetts
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PRESENTED BY:
Karyn E. Polito
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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 capital gains.
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PETITION OF:
Name: |
District/Address: |
Karyn E. Polito |
11th Worcester |
The Commonwealth of
Massachusetts
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In the Year Two Thousand and Nine
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An Act relative to capital gains.
Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
Chapter 62 of the General Laws is hereby amended by inserting after section 2 the following section:-
Section 2A. Monies realized from the taxation of capital gain income shall be distributed as follows: no more than50 per cent shall be used for the inclusion in monies appropriated in the annual state operating budget and the remainder of monies shall be deposited in the Commonwealth Stabilization Fund established by section 2H of chapter 29.
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