By Messrs. Stanley of Waltham and Murphy of Burlington, petition (accompanied by bill, House, No. 3135) of Thomas M. Stanley and others relative to increasing income tax credits for senior citizens.  Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Thomas M. Stanley

Charles A. Murphy

Colleen M. Garry

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In the Year Two Thousand and Seven.

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An Act providing senior tax relief.

    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.           Clause (ii) of paragraph (3) of subsection (k) of section 6 of chapter 62 of the General Laws, as amended by section 3 of chapter 136 of the acts of 2005, is hereby further amended by striking out the figure “$600,000” and inserting in place thereof the following figure: — $750,000.

                SECTION 2.           Section 1 shall be effective for taxable years beginning on or after January 1, 2007, subject to adjustment pursuant paragraph (4) of said subsection (k) for taxable years beginning on or after January 1, 2008.