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By Mr. Hynes of Marshfield, petition (accompanied by bill, House, No. 2958) of Frank M. Hynes for legislation to provide a tax credit for the costs of subsurface septic systems. Revenue. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. Hynes of Marshfield, petition (accompanied by bill, House, No. 2958) of Frank M. Hynes for legislation to provide a tax credit for the costs of subsurface septic systems. Revenue. |
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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An Act providing a tax credit for certain waste disposal costs. |
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 2000 Official Edition, is hereby amended by adding the following subsection:—
(l) Any owner of commercial premises who pays for the design and cost of
construction or repair of a subsurface septic system to meet the requirements
of Title V shall be allowed a credit of 40 percent of such costs not to exceed
$6,000 in credit. Said credit shall be amortized over four years and shall
apply to all such costs incurred after January 1, 1995.
If such owner does not have a tax liability equal to or in excess of the
credit, he shall receive a refund of the amount of the tax liability and the
credit.
SECTION 2. The department of revenue shall promulgate rules and regulations to carry out the purposes of section one.
SECTION 3. Section one shall be inoperable as of December 31, 2008.