Massachusetts S740: An Act relative to certificate of deposit interest income

What the bill says

From the introduced text, February 27, 2025:

Section 71 of chapter 171 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting at the end of subsection (o) the following:- "Notwithstanding any general or special law to the contrary, certificate of deposit interest income earned at any Massachusetts bank as defined in chapter 167, shall not be subject to the taxable income requirements of chapter 62."

Read the full official text

Sponsors

• Ryan Fattman (R, Worcester and Hampden) · primary sponsor
• Tarr, Bruce E. (R, First Essex and Middlesex)

Latest actions

1. December 11, 2025: Accompanied a study order, see S2845
2. October 30, 2025: Hearing rescheduled to 10/30/2025 from 10:30 AM-02:00 PM in A-2 <br> <span style="color: blue; font-style: italic;">Hearing updated to New End Time</span>
3. October 30, 2025: Hearing rescheduled to 10/30/2025 from 10:30 AM-04:00 PM in A-2 <br> <span style="color: blue; font-style: italic;">Hearing updated to New End Time</span>
4. October 21, 2025: Hearing scheduled for 10/30/2025 from 10:30 AM-01:00 PM in A-2
5. February 27, 2025: House concurred
6. February 27, 2025: Referred to the committee on Financial Services

Common questions

What is S740?

S740 is a bill in the Massachusetts Legislature (194th General Court): An Act relative to certificate of deposit interest income.

What is the status of S740?

Failed as of December 11, 2025. Latest action: Accompanied a study order, see S2845 (December 11, 2025).

Who sponsored S740?

Ryan Fattman (R, Worcester and Hampden), with 1 co-sponsor.

Where is the official record for S740?

On the Massachusetts Legislature website: https://malegislature.gov/Bills/194/S740