KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Massachusetts

S1974 • 2025

An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

Taxes
Active

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

Sponsor
James B. Eldridge
Last action
2026-04-01
Official status
Reporting date extended to Thursday June 25, 2026
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 aligning the long-term capital gains tax rate with the short-term capital gains tax rate

An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate By Mr.

What This Bill Does

  • An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate By Mr.
  • Eldridge, a petition (accompanied by bill, Senate, No.
  • 1974) of James B.
  • Eldridge for legislation to align the long-term capital gains tax rate with the short-term capital gains tax rate.

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. 2026-04-01 Senate

    Reporting date extended to Thursday June 25, 2026

  2. 2025-10-03 Joint

    Hearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium Hearing updated to New End Time

  3. 2025-09-24 Joint

    Hearing scheduled for 10/03/2025 from 10:00 AM-05:00 PM in Gardner Auditorium

  4. 2025-02-27 Senate

    Referred to the committee on Revenue

  5. 2025-02-27 House

    House concurred

Official Summary Text

An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate
By Mr. Eldridge, a petition (accompanied by bill, Senate, No. 1974) of James B. Eldridge for legislation to align the long-term capital gains tax rate with the short-term capital gains tax rate. Revenue.

Current Bill Text

Read the full stored bill text 
×

Bill S.1974

SECTION 1. Section 5G of chapter 29 of the General Laws, as amended by section 19 of chapter 28 of the Acts of 2023, is hereby further amended by inserting after the words “Constitution of the Commonwealth”:- and the alignment surtax as defined in section 1 of chapter 62.

SECTION 2. Section 1 of chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting after the definition of “Commissioner” the following new definition:-

(b) “Alignment surtax”, a tax imposed at a rate of 3.5 per cent on Part C taxable income.

SECTION 3. Section 4 of said chapter 62, as so appearing, is hereby amended by inserting after the words “paragraph (b)”, in line 33, the following words:- plus the alignment surtax.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Close