Massachusetts S1970 increases the renter relief tax credit for eligible taxpayers.

Massachusetts S1970 amends the state's tax laws to increase the renter relief tax credit. The bill raises the credit limit from $3,000 to $9,000 for eligible taxpayers. It also introduces a new credit for taxpayers who pay rent for their principal residence in Massachusetts, provided their adjusted gross income is $75,000 or less. The credit is equal to 15% of 50% of the total rent paid over $12,000, but cannot exceed $3,000.

Massachusetts S1970 increases the renter relief tax credit for eligible taxpayers.

Massachusetts S1970 amends the state's tax laws to increase the renter relief tax credit. The bill raises the credit limit from $3,000 to $9,000 for eligible taxpayers. It also introduces a new credit for taxpayers who pay rent for their principal residence in Massachusetts, provided their adjusted gross income is $75,000 or less. The credit is equal to 15% of 50% of the total rent paid over $12,000, but cannot exceed $3,000.