S2001
An Act establishing the Massachusetts downsizing tax credit
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill proposes to create a tax credit in Massachusetts for homeowners who downsize their residences. The credit would be available to eligible homeowners who sell their current property and purchase a smaller home within the state. The goal of the credit is to encourage downsizing and potentially reduce the tax burden on those transitioning to smaller living spaces.
Key provisions
- Provides a tax credit to homeowners who sell a larger home and purchase a smaller one.
- The credit amount would be based on the square footage reduction.
- Eligibility would be tied to purchasing a new home within Massachusetts.
- The bill outlines the process for claiming the credit.
Who is affected
- Homeowners
- Real estate buyers
- Massachusetts residents
Sponsors
Official sponsors from legislative records.
Primary sponsor
Paul R. Feeney
Cosponsor
Paul R. Feeney
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Bill S.2001 194th (Current)
An Act establishing the Massachusetts downsizing tax credit
By Mr. Feeney, a petition (accompanied by bill, Senate, No. 2001) of Paul R. Feeney for legislation to establish the Massachusetts residence downsizing tax credit. Revenue.
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Bill Information
Bill Information
Presenter: Paul R. Feeney Status: Referred to Joint Committee on Revenue
Tabs
Bill History Petitioners Committee Summary Primary Sponsor Summary
Bill History
Displaying 4 actions for Bill S.2001
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Revenue |
| 2/27/2025 | House | House concurred |
| 9/4/2025 | Joint | Hearing scheduled for 09/15/2025 from 01:00 PM-05:00 PM in A-2 |
| 4/1/2026 | Senate | Reporting date extended to Thursday June 25, 2026 |
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