An Act relative to the tax exemption status of municipal employee pensions
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill seeks to clarify the tax exemption status of pensions received by municipal employees in Massachusetts. Currently, there is some uncertainty regarding whether these pensions are fully exempt from state income tax. The bill aims to provide greater clarity and potentially expand the existing tax exemption to ensure that municipal employees receive the full benefit of their retirement savings.
Key provisions
- Addresses the tax treatment of municipal employee pensions.
- Seeks to clarify the existing tax exemption rules.
- May expand the scope of the current tax exemption.
- Related to revenue and taxation within the Commonwealth.
Who is affected
- Municipal Employees
- Pension Recipients
- Massachusetts Residents
- State Taxpayers
- Local Governments
Notable changes
- Potentially expands the existing tax exemption for municipal employee pensions.
- Provides greater clarity regarding the tax status of these pensions.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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