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| 2 | 2 | | SENATE DOCKET, NO. 888 FILED ON: 1/18/2023 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 1845 |
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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 | | Patricia D. Jehlen |
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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 estate tax. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :Patricia D. JehlenSecond MiddlesexRebecca L. RauschNorfolk, Worcester and Middlesex1/25/2023Sal N. DiDomenicoMiddlesex and Suffolk2/3/2023Mike Connolly26th Middlesex2/3/2023Jason M. LewisFifth Middlesex2/6/2023James B. EldridgeMiddlesex and Worcester2/10/2023Danillo A. Sena37th Middlesex2/23/2023 1 of 2 |
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| 16 | 16 | | SENATE DOCKET, NO. 888 FILED ON: 1/18/2023 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 1845 |
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| 18 | 18 | | By Ms. Jehlen, a petition (accompanied by bill, Senate, No. 1845) of Patricia D. Jehlen, Rebecca |
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| 19 | 19 | | L. Rausch, Sal N. DiDomenico, Mike Connolly and other members of the General Court for |
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| 20 | 20 | | legislation relative to the estate tax. Revenue. |
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| 21 | 21 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
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| 22 | 22 | | SEE SENATE, NO. 1884 OF 2021-2022.] |
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| 23 | 23 | | The Commonwealth of Massachusetts |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | In the One Hundred and Ninety-Third General Court |
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| 26 | 26 | | (2023-2024) |
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| 27 | 27 | | _______________ |
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| 28 | 28 | | An Act relative to the estate tax. |
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| 29 | 29 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 30 | 30 | | of the same, as follows: |
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| 31 | 31 | | 1 SECTION 1. Subsection (a) of section 2A of chapter 65C of the General Laws, as |
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| 32 | 32 | | 2appearing in the 2020 Official Edition, is hereby amended by adding the following sentence:- If |
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| 33 | 33 | | 3the value of the decedent’s taxable estate is over $20,000,000 or more, the tax owed to the |
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| 34 | 34 | | 4commonwealth shall be $2,676,400 plus 19 per cent of the excess of $20,000,000. |
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| 35 | 35 | | 5 SECTION 2. Said chapter 65C is hereby further amended by inserting after section 2A |
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| 36 | 36 | | 6the following section:- |
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| 37 | 37 | | 7 Section 2B. If the value of the decedent’s taxable estate is equal to $1,000,000, but does |
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| 38 | 38 | | 8not exceed $1,050,000, a credit of $35,000 shall be applied to the taxes owed to the |
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| 39 | 39 | | 9commonwealth pursuant to section 2A; provided, that the amount of the credit allowable 2 of 2 |
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| 40 | 40 | | 10pursuant to this section shall be reduced by 70 cents for each $1 by which the value of the |
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| 41 | 41 | | 11decedent’s taxable estate exceeds $1,000,000. |
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