H3248
An Act granting an income tax exemption for new manufacturing corporations
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Bill overview
This bill proposes to provide a temporary income tax exemption for newly established manufacturing corporations in Massachusetts. The exemption would apply for the first five years of operation, aiming to encourage investment and growth in the manufacturing sector. The bill was referred to the Revenue Committee and subsequently heard, with a reporting date extended multiple times. It is similar to previous legislation concerning manufacturing corporations and tax credits.
Key provisions
- Provides an income tax exemption for new manufacturing corporations.
- The exemption applies for the first five years of operation.
- The bill was introduced by Representative Michael J. Soter.
- It is related to previous legislation concerning manufacturing corporations.
- The bill was referred to the Revenue Committee.
- A hearing was scheduled and later rescheduled.
- The reporting date was extended multiple times.
Who is affected
- New manufacturing corporations
- The Massachusetts state government (through tax revenue)
- Investors in manufacturing companies
Notable changes
- This bill introduces a new tax exemption specifically for newly formed manufacturing businesses.
- It builds upon previous legislation related to manufacturing taxation in Massachusetts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Michael J. Soter
Cosponsors
Joseph D. McKenna
Michael J. Soter
Patrick M. O'Connor
Arguments in favor
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Bill H.3248 194th (Current)
An Act granting an income tax exemption for new manufacturing corporations
By Representative Soter of Bellingham, a petition (accompanied by bill, House, No. 3248) of Michael J. Soter and Joseph D. McKenna relative to an income tax exemption for certain manufacturing corporations during the first five years of operation. Revenue.
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Bill Information
Bill Information
Presenter: Michael J. Soter
Tabs
Bill History Petitioners Committee Summary Hearing Attendance
Bill History
Displaying 7 actions for Bill H.3248
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on Revenue |
| 2/27/2025 | Senate | Senate concurred |
| 9/24/2025 | Joint | Hearing scheduled for 10/03/2025 from 10:00 AM-05:00 PM in Gardner Auditorium |
| 10/3/2025 | Joint | Hearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium Hearing updated to New End Time |
| 12/18/2025 | House | Reporting date extended to Friday, February 20, 2026 |
| 2/25/2026 | House | Reporting date extended to Wednesday, March 18, 2026 |
| 4/21/2026 | House | Accompanied a study order, see H5313 |
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