Bill Text: MA S1291 | 2009-2010 | 186th General Court | Introduced
Bill Title: For legislation relative to tax credits for prescription drugs
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 [S1291 Detail]
Download: Massachusetts-2009-S1291-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Mr. Knapik
_______________
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 tax credits for prescription drugs.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Mr. Knapik |
Second Hampden and Hampshire |
|
Robert M. Koczera |
11th Bristol |
|
Todd M. Smola |
1st Hampden |
|
Theodore C. Speliotis |
13th Essex |
|
Richard R. Tisei |
Middlesex and Essex |
|
Bruce E. Tarr |
First Essex and Middlesex |
|
Scott P. Brown |
Norfolk, Bristol and Middlesex |
|
Robert L. Hedlund |
Plymouth and Norfolk |
|
William Smitty Pignatelli |
4th Berkshire |
|
Brian A. Joyce |
Norfolk, Bristol and Plymouth |
|
Gale D. Candaras |
First Hampden and Hampshire |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE SENATE, NO. S01745 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act relative to tax credits for prescription drugs.
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 6 of Chapter 62 of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by adding the following subsection: -
(l) A credit shall be allowed against the tax liability imposed by this chapter to a taxpayer who has reached the age of sixty-five or more for the cost incurred by the taxpayer during the tax year for the purchase of prescription drugs. The credit shall not exceed two thousand dollars per tax year. Said taxpayer whose prescription drug costs are fully covered by an insurance plan, or the prescription drug insurance plan administered by the Executive Office of Elder Affairs, shall receive the tax credit for their premium or deductible costs. If the credit provided in this section reduces the tax to zero, the taxpayer shall be entitled to a refund equal to the amount of the credit exceeded the amount of tax due.
