1.606 -Septic System Repair Credit
Item | Description | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|---|
1.606 | Septic System Repair Credit
Taxpayers required to repair or replace a failed cesspool or septic system pursuant to the provisions of Title V, as promulgated by the Department of Environmental Protection in 1995, are allowed a credit equal to 40% of the design and construction costs incurred (less any subsidy or grant from the Commonwealth), up to a maximum of $1,500 per tax year and $6,000 in total. Unused credits may be carried forward for up to three years. Credit is neither transferable nor refundable. Origin: M.G.L. c. 62, S. 6(i) Estimate: $9.6 |
11.7 | 10.6 | 10.1 | 9.9 | 9.6 |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
U.S.C | United States Code |
M.G.L. | Massachusetts General Laws |
Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
ESTIMATES | All estimates are in $ millions. |
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