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| 2 | 2 | | SENATE DOCKET, NO. 2512 FILED ON: 1/17/2025 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 1995 |
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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 updating 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 :Ryan C. FattmanWorcester and HampdenBruce E. TarrFirst Essex and Middlesex2/26/2025 1 of 2 |
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| 16 | 16 | | SENATE DOCKET, NO. 2512 FILED ON: 1/17/2025 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 1995 |
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| 18 | 18 | | By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1995) of Ryan C. Fattman and |
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| 19 | 19 | | Bruce E. Tarr for legislation to update the estate tax bring Massachusetts in line with the federal |
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| 20 | 20 | | level threshold for taxable estates and credits. 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 updating the estate tax. |
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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 2A of chapter 65C of the General Laws, as appearing in the 2022 |
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| 30 | 30 | | 2Official Edition, is hereby amended by striking out subsection (f), and inserting in place thereof |
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| 31 | 31 | | 3the following:- |
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| 32 | 32 | | 4 "(f) For the estates of decedents dying on or after January 1, 2025, a credit shall be |
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| 33 | 33 | | 5allowed against the tax imposed by subsections (a) and (b) equal to the amount of such tax; |
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| 34 | 34 | | 6provided, however, that the credit shall not exceed the federal level established in 26 USC ยง |
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| 35 | 35 | | 72010 promulgated by the Internal Revenue Service." |
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| 36 | 36 | | 8 SECTION 2. Said section 2A, as so appearing, is hereby amended by striking out |
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| 37 | 37 | | 9subsection (g), and inserting in place thereof the following:- |
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| 38 | 38 | | 10 "(g) The estates of decedents dying on or after January 1, 2025 shall not be required to |
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| 39 | 39 | | 11pay any tax under subsections (a) and (b) if the value of the federal taxable estate is not more 2 of 2 |
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| 40 | 40 | | 12than the federal threshold level established in 26 USC Chapter 11 promulgated by the Internal |
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| 41 | 41 | | 13Revenue Service." |
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