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| 2 | 2 | | SENATE DOCKET, NO. 683 FILED ON: 1/14/2025 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 1979 |
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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 | | Ryan C. Fattman |
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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 stimulating small business investment. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :Ryan C. FattmanWorcester and Hampden 1 of 1 |
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| 16 | 16 | | SENATE DOCKET, NO. 683 FILED ON: 1/14/2025 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 1979 |
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| 18 | 18 | | By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1979) of Ryan C. Fattman for |
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| 19 | 19 | | legislation to stimulate small business investment. Revenue. |
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| 20 | 20 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
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| 21 | 21 | | SEE SENATE, NO. 1805 OF 2023-2024.] |
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| 22 | 22 | | The Commonwealth of Massachusetts |
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| 23 | 23 | | _______________ |
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| 24 | 24 | | In the One Hundred and Ninety-Fourth General Court |
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| 25 | 25 | | (2025-2026) |
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| 26 | 26 | | _______________ |
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| 27 | 27 | | An Act stimulating small business investment. |
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| 28 | 28 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 29 | 29 | | of the same, as follows: |
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| 30 | 30 | | 1 Chapter 63 of the General Laws, as appearing in the 2022 Official Edition, is hereby |
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| 31 | 31 | | 2amended by inserting after section 38HH the following section:- |
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| 32 | 32 | | 3 Section 38NN. A business corporation shall be allowed a credit against its tax liability |
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| 33 | 33 | | 4imposed under this chapter equal to not more than the first $500,000 of revenue earned by said |
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| 34 | 34 | | 5corporation during the taxable year for which the tax is due. The credit allowed by this section |
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| 35 | 35 | | 6shall not reduce the excise to an amount less than the amount due under subsection (b) of section |
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| 36 | 36 | | 739 of this chapter. |
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