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| 2 | 2 | | SENATE DOCKET, NO. 1377 FILED ON: 1/16/2025 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 1974 |
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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 | | James B. Eldridge |
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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 aligning the long-term capital gains tax rate with the short-term capital gains tax rate. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :James B. EldridgeMiddlesex and Worcester 1 of 1 |
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| 16 | 16 | | SENATE DOCKET, NO. 1377 FILED ON: 1/16/2025 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 1974 |
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| 18 | 18 | | By Mr. Eldridge, a petition (accompanied by bill, Senate, No. 1974) of James B. Eldridge for |
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| 19 | 19 | | legislation to align the long-term capital gains tax rate with the short-term capital gains tax rate. |
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| 20 | 20 | | Revenue. |
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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-Fourth General Court |
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| 24 | 24 | | (2025-2026) |
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| 25 | 25 | | _______________ |
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| 26 | 26 | | An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate. |
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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 5G of chapter 29 of the General Laws, as amended by section 19 of |
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| 30 | 30 | | 2chapter 28 of the Acts of 2023, is hereby further amended by inserting after the words |
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| 31 | 31 | | 3“Constitution of the Commonwealth”:- and the alignment surtax as defined in section 1 of |
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| 32 | 32 | | 4chapter 62. |
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| 33 | 33 | | 5 SECTION 2. Section 1 of chapter 62 of the General Laws, as appearing in the 2022 |
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| 34 | 34 | | 6Official Edition, is hereby amended by inserting after the definition of “Commissioner” the |
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| 35 | 35 | | 7following new definition:- |
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| 36 | 36 | | 8 (b) “Alignment surtax”, a tax imposed at a rate of 3.5 per cent on Part C taxable income. |
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| 37 | 37 | | 9 SECTION 3. Section 4 of said chapter 62, as so appearing, is hereby amended by |
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| 38 | 38 | | 10inserting after the words “paragraph (b)”, in line 33, the following words:- plus the alignment |
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| 39 | 39 | | 11surtax. |
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