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H3145 • 2025

An Act relative to the gradual elimination of the inventory tax

An Act relative to the gradual elimination of the inventory tax

Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Bradley H. Jones, Jr.
Last action
2026-03-16
Official status
Accompanied a study order, see H5238
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act relative to the gradual elimination of the inventory tax

An Act relative to the gradual elimination of the inventory tax By Representative Jones of North Reading, a petition (accompanied by bill, House, No.

What This Bill Does

  • An Act relative to the gradual elimination of the inventory tax By Representative Jones of North Reading, a petition (accompanied by bill, House, No.
  • 3145) of Bradley H.
  • Jones, Jr., and others relative to the gradual elimination of the inventory tax.
  • Revenue.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-03-16 House

    Accompanied a study order, see H5238

  2. 2025-12-18 House

    Reporting date extended to Friday, February 20, 2026

  3. 2025-09-19 Joint

    Hearing scheduled for 09/29/2025 from 01:00 PM-05:00 PM in A-1

  4. 2025-02-27 House

    Referred to the committee on Revenue

  5. 2025-02-27 Senate

    Senate concurred

Official Summary Text

An Act relative to the gradual elimination of the inventory tax
By Representative Jones of North Reading, a petition (accompanied by bill, House, No. 3145) of Bradley H. Jones, Jr., and others relative to the gradual elimination of the inventory tax. Revenue.

Current Bill Text

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Bill H.3145

SECTION 1. Subsection (a) of section 39 of chapter 63 of the general laws, as appearing in the 2022 Official Edition, is hereby amended, in line 37, by striking the figure “$2.60” and inserting in place thereof the following figure:- $2.00.

SECTION 2. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in line 37, by striking the figure “$2.00” and inserting in place thereof the following figure:- $1.50.

SECTION 3. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in line 37, by striking the figure “$1.50” and inserting in place thereof the following figure:- $1.00.

SECTION 4. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in line 37, by striking the figure “$1.00” and inserting in place thereof the following figure:- $.50.

SECTION 5. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended by striking clause (1) and (2) and inserting in place thereof the following:-

“(1)(i) For tax years beginning before January 1, 2020, 9.5 per cent of its net income determined to be taxable in accordance with this chapter; (ii) for tax years beginning on or after January 1, 2010, but before January 1, 2021, 8.75 per cent of its net income determined to be taxable in accordance with this chapter; (iii) for tax years beginning on or after January 1, 2021, but before January 1, 2022, 8.25 per cent of its net income determined to be taxable in accordance with this chapter; or (iv) for tax years beginning on or after January 1, 2022, 8.0 per cent of its net income determined to be taxable in accordance with this chapter.

SECTION 6. Section 1 of this act shall be effective on January 1, 2026.

SECTION 7. Section 2 of this act shall be effective on January 1, 2027.

SECTION 8. Section 3 of this act shall be effective on January 1, 2028.

SECTION 9. Section 4 of this act shall be effective on January 1, 2029.

SECTION 10. Section 5 of this act shall be effective on January 1, 2030.

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