By Mr. Jones of North Reading, petition (accompanied by bill, House, No. 2961) of Bradley H. Jones, Jr., and others for legislation to reduce the income tax rate.  Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Bradley H. Jones, Jr.

Mary S. Rogeness

George N. Peterson, Jr.

John A. Lepper

Viriato Manuel deMacedo

Paul K. Frost

Elizabeth A. Poirier

Robert S. Hargraves

Karyn E. Polito

Richard J. Ross

Susan Williams Gifford

Jeffrey Davis Perry

Paul J. P. Loscocco

Donald F. Humason, Jr.

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In the Year Two Thousand and Seven.

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An Act relative to respecting the will of the voters.

    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 4 of said chapter 62 of the General Laws, as so appearing in the 2004 Official Edition, is hereby amended by striking out subsection (b) in its entirety and inserting in place thereof the following subsection:-

(b) Part B taxable income shall be taxed at the rate of 5.15 percent for the taxable year beginning January 1, 2008.

SECTION 2. Section 4 of said chapter 62 of the General Laws, as so appearing, is hereby amended by striking out subsection (b) in its entirety and inserting in place thereof the following subsection:-

(b) Part B taxable income shall be taxed at the rate of 5 percent for the taxable year beginning January 1, 2009.

SECTION 3. Section 1 of this act shall be effective only for the taxable year beginning January 1, 2008.

SECTION 4. Section 2 of this act shall be effective for taxable years beginning on or after January 1, 2009.