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HOUSE DOCKET, NO. 418 FILED ON: 1/9/2025
HOUSE . . . . . . . . . . . . . . . No. 3048
The Commonwealth of Massachusetts
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PRESENTED BY:
Tackey Chan
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to increasing interest rate deductions.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Tackey Chan2nd Norfolk1/9/2025 1 of 1
HOUSE DOCKET, NO. 418 FILED ON: 1/9/2025
HOUSE . . . . . . . . . . . . . . . No. 3048
By Representative Chan of Quincy, a petition (accompanied by bill, House, No. 3048) of Tackey
Chan relative to increasing interest rate deductions. Revenue.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3882 OF 2023-2024.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Fourth General Court
(2025-2026)
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An Act relative to increasing interest rate deductions.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 Section 3 of chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is
2hereby amended by striking out, in lines 64-68, subparagraph (6) of paragraph (a) of subsection
3B and inserting in place thereof the following subparagraph:-
4 (6) Interests and dividends in the amount of five hundred dollars for a single person, head
5of household or a married person filing a separate return or one thousand dollars for a husband
6and wife filing a joint return from savings deposits, savings accounts, shares or share savings
7accounts included in Part B gross income.