Massachusetts 2025-2026 Regular Session

Massachusetts House Bill H3052 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	HOUSE DOCKET, NO. 979 FILED ON: 1/14/2025
3	3	HOUSE . . . . . . . . . . . . . . . No. 3052
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Michelle L. Ciccolo
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act relative to public benefit corporations.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :DATE ADDED:Michelle L. Ciccolo15th Middlesex1/14/2025 1 of 3
16	16	HOUSE DOCKET, NO. 979 FILED ON: 1/14/2025
17	17	HOUSE . . . . . . . . . . . . . . . No. 3052
18	18	By Representative Ciccolo of Lexington, a petition (accompanied by bill, House, No. 3052) of
19	19	Michelle L. Ciccolo for legislation to provide preferential tax rates to certain public benefit
20	20	corporations. Revenue.
21	21	[SIMILAR MATTER FILED IN PREVIOUS SESSION
22	22	SEE HOUSE, NO. 4016 OF 2023-2024.]
23	23	The Commonwealth of Massachusetts
24	24	_______________
25	25	In the One Hundred and Ninety-Fourth General Court
26	26	(2025-2026)
27	27	_______________
28	28	An Act relative to public benefit corporations.
29	29	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
30	30	of the same, as follows:
31	31	1 Chapter 63 of the General Laws is hereby amended by inserting after section 38NN the
32	32	2following section:-
33	33	3 Section 38OO.
34	34	4 (a) For the purposes of this section the following word “Living wage” shall mean the
35	35	5remuneration received for a standard workweek by a worker in the commonwealth sufficient to
36	36	6afford a decent standard of living for the worker and their family as determined by the MIT
37	37	7Living Wage Calculator. Elements of a decent standard of living include food, water, housing,
38	38	8education, health care, transportation, clothing and other essential needs including provision for
39	39	9unexpected events. 2 of 3
40	40	10 (b) A corporation that has elected to be a benefit corporation pursuant to chapter 156E
41	41	11shall be allowed a preferential tax rate equal to the Commonwealth’s corporate tax rate, minus
42	42	121.5% points for providing certain benefits to its employees if it meets the standards laid out in
43	43	13section (c) and certified by the department of revenue pursuant to subsection (d).
44	44	14 (c) To be eligible for the tax rate benefit under this section a benefit corporation shall:
45	45	15 (1) offer at least 4 of the following 6 employee benefits:
46	46	16 (i) a living wage;
47	47	17 (ii) paid parental leave for 12 weeks following the birth or adoption of a child;
48	48	18 (iii) flexible spending accounts;
49	49	19 (iv) a chief executive officer-to-lowest paid employee compensation ratio of no greater
50	50	20than 25:1; and
51	51	21 (v) the election of the benefit corporation to be governed as an employee cooperative
52	52	22pursuant to chapter 157A;
53	53	23 (vi) profit sharing provisions that return at least 10% of the corporate profits to the
54	54	24employees;
55	55	25 (2) receive certification from the department of revenue pursuant to subsection (d);
56	56	26 (3) offer at least 4 of the employee benefits listed in paragraph (1) for at least 12
57	57	27consecutive months prior to and in the taxable year in which the tax rate benefit is claimed. 3 of 3
58	58	28 (d) The commissioner shall promulgate regulations to establish a certification process for
59	59	29benefit corporations that offer 4 of the employee benefits listed in paragraph (1) of subsection
60	60	30(c).
61	61	31 (f) The state secretary, in consultation with the commissioner, shall promulgate
62	62	32regulations establishing an application process for determining eligibility for the preferential tax
63	63	33rate.