H2824
An Act relative to the SMART Plan
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Bill overview
This bill addresses compensation for employees participating in the SMART Plan, a deferred compensation program often utilized by public service employees. It aims to clarify how compensation sourced through the SMART Plan is treated, specifically focusing on ensuring proper reporting and potential adjustments to ensure accurate tax withholding. The bill seeks to provide clarity and potentially correct discrepancies related to the taxation of earnings within the SMART Plan.
Key provisions
- Clarifies the reporting requirements for compensation sourced from the SMART Plan.
- Addresses potential issues with tax withholding on earnings within the SMART Plan.
- Focuses on employees whose compensation is derived from the SMART Plan.
- Seeks to ensure accurate tax reporting for public service employees.
- Related to a study order (H.5312) to further examine the SMART Plan’s operations.
Who is affected
- Public service employees
- Employees participating in the SMART Plan
- Taxpayers receiving compensation through the SMART Plan
Notable changes
- The bill’s specific changes are not detailed in the provided text, but it aims to improve the clarity and accuracy of tax reporting related to the SMART Plan.
- It is linked to a study order (H.5312) which suggests a broader examination of the SMART Plan’s operations and potential issues.
Sponsors
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Primary sponsor
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Bill H.2824 194th (Current)
An Act relative to the SMART Plan
By Representative Ferrante of Gloucester, a petition (accompanied by bill, House, No. 2824) of Ann-Margaret Ferrante relative to employees whose compensation is sourced from the deferred compensation program SMART Plan. Public Service.
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Bill Information
Bill Information
Presenter: Ann-Margaret Ferrante
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Bill History Petitioners Committee Vote Committee Summary Hearing Attendance
Bill History
Displaying 6 actions for Bill H.2824
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on Public Service |
| 2/27/2025 | Senate | Senate concurred |
| 9/25/2025 | Joint | Hearing scheduled for 10/06/2025 from 01:00 PM-05:00 PM in A-1 |
| 10/6/2025 | Joint | Hearing rescheduled to 10/06/2025 from 01:00 PM-02:30 PM in A-1 and Virtual Hearing updated to New End Time |
| House | Reported by committee to Clerk’s Office for processing, will accompany a study order | |
| 3/30/2026 | House | Accompanied a study order, see H5312 (under House Rule 27) |
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