|
By Mr. Hynes of Marshfield, petition (accompanied by bill, House, No. 2951) of Frank M. Hynes relative to the granting of tax credits for connecting to sewer systems in cities and towns. Revenue. |
The Commonwealth of Massachusetts
——————
PETITION OF:
——————
In the Year Two Thousand and Seven.
——————
|
An Act providing tax credits for connections to municipal sewer systems. |
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 6 of chapter 62 of the General Laws, as appearing in the 1998 Official
Edition, is hereby amended by adding, after subsection (j), the following
subsection:—
(k) 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 per cent of the expenditures
for design and construction expenses for connecting to a municipal sewer system,
which connection has been authorized by the municipality in which the property
is located and which municipality has recognized the inadequacy of traditional
septic usage. Said expenditures shall be the actual cost to 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
connection 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 five subsequent tax years up to an 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.