By Mr. Speliotis of Danvers, petition (accompanied by bill, House, No. 3126) of Bruce E. Tarr and others relative to making certain changes in the income tax laws.  Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Bruce E. Tarr

Theodore C. Speliotis

Joyce A. Spiliotis

Douglas W. Petersen

Robert A. DeLeo

Christopher G. Fallon

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In the Year Two Thousand and Seven.

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An Act making certain changes to income tax laws.

    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 edition, is hereby amended by deleting, in lines 322 and 323, the words “10 per cent of the taxpayer’s total income, but the credit shall not exceed $750” and inserting in place thereof the words “8 per cent of the taxpayer’s total income, but the credit shall not exceed $750”.

SECTION 2. Section 6 of Chapter 62 of the General Laws, as appearing in the 2004 edition, is hereby amended by deleting, in line 328, the word “$400,000” and inserting in place thereof the word “$550,000”.