Section 95 Charitable Deduction Report

The department of revenue shall conduct a study on the reinstatement of the charitable deduction following the reduction of the Part B income tax rate to 5 per cent pursuant to chapter 186 of the acts of 2002. The department shall analyze available tax data including, but not limited to, federal data on the charitable deduction for Massachusetts taxpayers and comparable records from other states, as applicable, and shall evaluate and provide revenue estimates for the reinstatement of the charitable deduction and for alternative options including, but not limited to, reducing the charitable deduction percentage and capping the deductible amount per taxpayer. The department shall submit the results of the study by filing the same with the secretary of the executive office for administration and finance, the clerks of the house of representatives and senate, the joint committee on revenue and the house and senate committees on ways and means.

This section directs the Department of Revenue to conduct a study on the reinstatement of the charitable deduction.