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| 2 | 2 | | HOUSE DOCKET, NO. 856 FILED ON: 1/17/2023 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 1229 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Brian W. Murray |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act relative to the fair treatment of life estates in MassHealth eligibility. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Brian W. Murray10th Worcester1/17/2023Kay Khan11th Middlesex2/17/2023Kate Lipper-Garabedian32nd Middlesex3/12/2023 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 856 FILED ON: 1/17/2023 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 1229 |
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| 18 | 18 | | By Representative Murray of Milford, a petition (accompanied by bill, House, No. 1229) of |
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| 19 | 19 | | Brian W. Murray, Kay Khan and Kate Lipper-Garabedian relative to the treatment of life estates |
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| 20 | 20 | | in MassHealth eligibility. Health Care Financing. |
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| 21 | 21 | | The Commonwealth of Massachusetts |
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| 22 | 22 | | _______________ |
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| 23 | 23 | | In the One Hundred and Ninety-Third General Court |
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| 24 | 24 | | (2023-2024) |
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| 25 | 25 | | _______________ |
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| 26 | 26 | | An Act relative to the fair treatment of life estates in MassHealth eligibility. |
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| 27 | 27 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 28 | 28 | | of the same, as follows: |
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| 29 | 29 | | 1 SECTION 1. Section 28 of chapter 118E of the general laws is hereby amended by |
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| 30 | 30 | | 2adding at the end thereof the following:- |
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| 31 | 31 | | 3 “In determining the eligibility of an individual who has disposed of a life estate or |
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| 32 | 32 | | 4remainder interest in property, the Division shall determine the percentage interest of such life |
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| 33 | 33 | | 5estate or remainder interest in accordance with federal internal revenue service regulations |
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| 34 | 34 | | 6governing the valuation of annuities, interests for life or term of years, and remainder or |
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| 35 | 35 | | 7reversionary interests.” |
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| 36 | 36 | | 8 SECTION 2. Section 31 of said chapter 118E is hereby amended in subsection (d) by |
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| 37 | 37 | | 9inserting after the word “sold.” the following:- |
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| 38 | 38 | | 10 “If the property against which the division has a lien or encumbrance is a life estate or |
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| 39 | 39 | | 11remainder interest, the percentage interest against which the division may recover upon a sale |
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| 40 | 40 | | 12shall be determined in accordance with federal internal revenue service regulations governing the 2 of 2 |
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| 41 | 41 | | 13valuation of annuities, interests for life or term of years, and remainder or reversionary |
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| 42 | 42 | | 14interests.” |
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