| 1 | 1 | | 1 of 1 |
|---|
| 2 | 2 | | SENATE DOCKET, NO. 122 FILED ON: 1/8/2025 |
|---|
| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 2044 |
|---|
| 4 | 4 | | The Commonwealth of Massachusetts |
|---|
| 5 | 5 | | _________________ |
|---|
| 6 | 6 | | PRESENTED BY: |
|---|
| 7 | 7 | | Michael O. Moore |
|---|
| 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 equalizing the Department of Revenue interest rates. |
|---|
| 13 | 13 | | _______________ |
|---|
| 14 | 14 | | PETITION OF: |
|---|
| 15 | 15 | | NAME:DISTRICT/ADDRESS :Michael O. MooreSecond Worcester 1 of 1 |
|---|
| 16 | 16 | | SENATE DOCKET, NO. 122 FILED ON: 1/8/2025 |
|---|
| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 2044 |
|---|
| 18 | 18 | | By Mr. Moore, a petition (accompanied by bill, Senate, No. 2044) of Michael O. Moore for |
|---|
| 19 | 19 | | legislation to equalize the Department of Revenue interest rates. Revenue. |
|---|
| 20 | 20 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
|---|
| 21 | 21 | | SEE SENATE, NO. 1883 OF 2023-2024.] |
|---|
| 22 | 22 | | The Commonwealth of Massachusetts |
|---|
| 23 | 23 | | _______________ |
|---|
| 24 | 24 | | In the One Hundred and Ninety-Fourth General Court |
|---|
| 25 | 25 | | (2025-2026) |
|---|
| 26 | 26 | | _______________ |
|---|
| 27 | 27 | | An Act relative to equalizing the Department of Revenue interest rates. |
|---|
| 28 | 28 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
|---|
| 29 | 29 | | of the same, as follows: |
|---|
| 30 | 30 | | 1 Subsection (a) of section 32 of chapter 62C of the General Laws, as appearing in the |
|---|
| 31 | 31 | | 22022 Official Edition, is hereby amended by striking out the second sentence and inserting in |
|---|
| 32 | 32 | | 3place thereof the following sentence:- |
|---|
| 33 | 33 | | 4 “If any amount of tax is not paid to the commissioner on or before its statutory due date, |
|---|
| 34 | 34 | | 5there shall be added to the tax interest at the rate of the federal short-term rate determined under |
|---|
| 35 | 35 | | 6section 6621(b) of the Internal Revenue Code, as amended and in effect for the taxable year, plus |
|---|
| 36 | 36 | | 72 percentage points, computed as simple interest.” |
|---|