H 3216

HOUSE DOCKET, NO. 2101  FILED ON: 1/15/2025
 HOUSE . . . . . . . . . . . . . . . No. 3216
  The Commonwealth of Massachusetts
  _________________
  PRESENTED BY:
  Orlando Ramos
  _________________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
        Court assembled:
        The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
  An Act supporting home sales to first-time home buyers.
  _______________
  PETITION OF:
NAME:  DISTRICT/ADDRESS:  DATE ADDED:
Orlando Ramos  9th Hampden  1/15/2025
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  HOUSE DOCKET, NO. 2101  FILED ON: 1/15/2025
     HOUSE . . . . . . . . . . . . . . . No. 3216
    By Representative Ramos of Springfield, a petition (accompanied by bill, House, No. 3216) of
    Orlando Ramos relative to tax credits for home sales to first-time home buyers. Revenue.
  The Commonwealth of Massachusetts
  _______________
  In the One Hundred and Ninety-Fourth General Court
  (2025-2026)
  _______________
    An Act supporting home sales to first-time home buyers.
  Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
    of the same, as follows:
1  Section 6 of chapter 62 of the General Laws is hereby amended by adding the following
2   subsection:-
3  (jj) A taxpayer shall be allowed a credit against the taxes imposed by this chapter in an
4   amount equal to 50 per cent of the capital gain income from the sale of a residential property to a
5   first-time home buyer for use as their primary residence; provided, that the sale price of the
6   property is less than $750,000; provided further, that the residential property contains 4 or fewer
7   residential dwelling units; and provided further, that such credit shall not exceed $7,500 for a
8   single person, married person filing a separate return, head of household or married persons
9   filing jointly.
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