Massachusetts legislation · 194th General Court
Massachusetts S2042: An Act relative to economic development tax credits
Status: Failed, July 23, 2026
What the bill says
An act of the legislature. (c) Notwithstanding any general or special law to the contrary, all tax incentive as defined in subsection (a) shall expire within one year of the passage of this act unless reauthorized by an act of the legislature after review and examination of each such tax incentive. Upon each reauthorization, the legislature shall include a sunset provision to take effect within 3 years of the date of reauthorization. (d) Any future program that awards a transferable or refundable tax credit to any taxpayer shall include a sunset provision with an expiration date set up to 3 ye.
From the introduced text, February 27, 2025:
an act of the legislature. (c) Notwithstanding any general or special law to the contrary, all tax incentive as defined in subsection (a) shall expire within one year of the passage of this act unless reauthorized by an act of the legislature after review and examination of each such tax incentive. Upon each reauthorization, the legislature shall include a sunset provision to take effect within 3 years of the date of reauthorization. (d) Any future program that awards a transferable or refundable tax credit to any taxpayer shall include a sunset provision with an expiration date set up to 3 years after of the initial passage of the program. Upon each reauthorization, the legislature shall include a sunset provision to take effect within 3 years of the date of reauthorization. (e) The Inspector General in consultation with the Department of Revenue shall:- (1) review and evaluate each tax incentive with a sunset provision scheduled to take effect in a given year. (2) Upon reviewing each tax incentive, recommend to continue the tax incentive without changes, amend the tax incentive, or eliminate the tax incentive. (3) submit a written report containing an explanation of the recommendations to the legislature. The report shall include a detailed description of the committee’s reasoning, analyses, and any data collected pursuant to paragraph (4) of this …
Sponsors
- (D, Second Bristol and Plymouth) · primary sponsor