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By Mr. LeDuc of Marlborough, petition (accompanied by bill, House, No. 3004) of Stephen P. LeDuc relative to tax deductions for home heating. Revenue. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. LeDuc of Marlborough, petition (accompanied by bill, House, No. 3004) of Stephen P. LeDuc relative to tax deductions for home heating. 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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Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Notwithstanding any general or special law, rule regulation to the contrary, for taxable years 2005, 2006, 2007 and 2008, there shall be deducted from adjusted gross income in determining income: up $800 cost of electricity, home heating oil, natural gas, propane. Said deduction will be available if taxpayer's income is equal to or less than $50,000 for single persons, and $75,000 for joint filers who qualify as a head household.
(a) The deductions may be used only for the cost of electricity, home heating oil, natural gas and propane purchased between November 1, 2005 and March 31, 2008.
(b) Any taxpayer entitled to a deduction under this section may apply the deduction in the taxable year in which the purchases were made. If the taxpayer does not take the full $800 deduction in the taxable year in which the purchase was made, the taxpayer may take the remainder in the following taxable year.
(c) Wherever the taxpayer would have been entitled to a deduction under this section, but was not so entitled at the time that said taxpayer was required to file, the taxpayer will be allowed a retroactive deduction for any amounts to which he or she would have been entitled. Such deductions shall be allowed on a cumulative basis not to exceed $800 per year for which the taxpayer would have been entitled to the deduction.
(c) The commissioner of revenue shall promulgate rules and regulations necessary to implement this section. The commissioner shall also include in such rules and regulations eligibility provisions for a taxpayer who owns a condominium or a cooperative dwelling and for whom such purchases are accounted for in a common area fee or special assessment against such costs as may be reasonably attributed to the percentage ownership share of the condominium or cooperative dwelling costs; and provided further, that the commissioner shall also include in such rules and regulations eligibility provisions for a taxpayer who rents a residential dwelling and for whom such purchases are accounted for in the rent and provisions that account for multiple renters in a residential dwelling. The department shall file a copy of any rules and regulations with the clerks of the senate and house of representatives and with the joint committee on revenue.