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A recent poll shows how Massachusetts voters feel about Chapter 62F, the tax law that brought $3 billion to taxpayers across the state.

Chapter 62F gave money back to taxpayers this past year, but there are multiple efforts on Beacon hill to change how surpluses are handled.

Democrats on Beacon Hill are looking to change the Chapter 62F law.

The state is flushed with cash, so much that the surplus revenue has to be returned to taxpayers under a law known as Chapter 62F. The auditors report states that DOR must now return that $2.94 billion to taxpayers.

The state is flushed with cash, so much so that the surplus tax revenue has to be returned to taxpayers. But, a new report is saying that the state isn’t taking everything into account.

The state is flushed with cash, so much so that the surplus revenue has to be returned.

The economic development bill has been in conference committee since July and it’s unknown if the bill will get through during informal sessions.

The Baker Administration announced Friday that first checks and direct deposits from Chapter 62F will begin distribution as early as Tuesday for some residents.

The Economic Development bill remains in conference committee and lawmakers are staying tight lipped on the status of the bill.

Taxpayer organizations held a press conference on Monday to call on lawmakers to ensure the return of Chapter 62F money to residents of the Commonwealth. The state is flushed with cash and legislative leaders originally planned to provide tax relief through an economic development bill.

Some Massachusetts residents have received their checks and direct deposits from Chapter 62F that were distributed from the state last week.

Should Beacon Hill officials try to duck the tax relief requirements of Chapter 62F over the next month, at least two groups of taxpayers, newly including one supported by major right-leaning groups like Citizens for Limited Taxation, have organized themselves to be prepared to ask the state’s court system to step in.

More than 1.5 million Massachusetts voters weighed in on the 1986 ballot question, almost 55 percent of them in favor of establishing a revenue cap and a credit system for excess state revenues to be returned to taxpayers.

The Executive Office for Administration and Finance says preliminary numbers show that the state will end Fiscal Year 2022 (FY22) with a $1.9 billion surplus.

The new legislative season is upon us and lawmakers are making their priorities known. Tax relief was a priority last session, but was scrapped due to Chapter 62F returns. Now with the new governor, it is back on the table.

The Baker administration took meaningful steps Friday towards sending nearly $3 billion in excess state revenue back to taxpayers, officially repealing the regulation that governed how taxpayers obtained a credit the only other time that Chapter 62F came into play, in 1987, and releasing a technical document spelling out exactly how the process will work this year.

Spilka and Mariano have said they planned to keep negotiating the bill in hopes of passing some version of it this fall.

On Wednesday, Governor Baker filed a $1.6 billion supplemental budget and set aside more than $2.9 billion to be returned to taxpayers under Chapter 62F.

The economic development bill remains stalled in conference committee. However, 13 state Senators sent Senate President Karen Spilka a bipartisan letter to suspend Joint Rule 12A and return to formal session to continue work on the economic development bill.

The state currently has five times as much money in its rainy day fund as it did five years ago. Massachusetts added $2.3 billion into the fund during 2022, bringing the fund to a historical high of $6.9 billion.

Tax relief could still happen, but not in the way it was originally planned.

A group of progressive Democrats will push to set a $6,500 limit on the maximum tax credit high-income earners in Massachusetts can receive under a mandatory refund law known as Chapter 62F, taking aim at the policy less than a month before the Baker administration expects to begin shipping out cash.

With just a handful of hours left to strike agreements and pass them, a House leader told the News Service that “the whole fiscal picture” is now being reconsidered.

Top House and Senate Democrats still have their eyes on revising the voter-approved tax cap that mandated nearly $3 billion in rebates, and in the meantime, some economic analysts think it’s not all that likely Massachusetts will trigger the law again this year or next.

The deadline to pass major bills on Beacon Hill has come and gone, but that isn’t stopping the economic development conference committee from continuing their work.

As the House and Senate’s overtime talks around tax relief and economic development stretch on, Senate President Karen Spilka suggested Tuesday that Gov. Charlie Baker might end up being the one to put forward a bill to provide funding for things like housing, hospitals and electric vehicle policies.

After months of paralysis on the most significant unfinished business, the wheels of lawmaking appear to be creaking into action.

Formal lawmaking ended on August 1st, but a crucial bill remains unfinished.

It’s two sides of the same coin. Legislators are rushing to complete critical business, and they are also scrambling to finish work they could have done months ago or last year.

It’s two sides of the same coin. Legislators are rushing to complete critical business, and they are also scrambling to finish work they could have done months ago or last year.

As their carefully crafted plans for tax relief and massive spending outlays began to slip away with last Thursday’s stunning news about a 1986 tax law, frustrated Democrats on Beacon Hill went into spin mode.

A major economic development bill is still on hold as state lawmakers assess an obscure law that could send billions back to Massachusetts taxpayers.

The $3.8 billion economic development bill includes funding for a host of state needs.

It’s been a back and forth for months now when it comes to the economic development bill, and finally Wednesday a deal was struck.

As the election nears, Democrats who control the House and Senate remain unable to agree on how to revive stalled economic development and tax relief plans they highlighted as essential over the summer, pointing to rampant inflation and rising interest rates as factors complicating their decisions.

The state Department of Revenue released its August collection amounts and tax collections continue to outpace last year’s numbers

Nearly 100 days after its original due date, the House and Senate on Wednesday struck an agreement on a major economic development spending package that could be on Gov. Charlie Baker’s desk by the end of the day Thursday.

While their caucuses wield newfound power over the fate of a multibillion-dollar spending and tax relief bill, top Republicans in the House and Senate are wary of digging out an entrenched position on what the proposal must include and exclude.

Fiscal year 2023 got off to a strong start for the tax collectors at the Department of Revenue as they hauled in $2.367 billion during July, an increase of $101 million or 4.5 percent over last July.

Massachusetts taxpayers struggling with sky-high inflation should expect to get their chunk of a nearly $3 billion state surplus pot “in the proportion that they paid in,” a top Baker administration official said.

Republican gubernatorial candidate Chris Doughty unveiled a tax reform plan Tuesday that calls for a major cut in the state sales and corporate tax rates and eliminating another tax that Doughty said leads to high prices at grocery stores.

Though talks around economic development and tax relief have continued since formal sessions ended early on Aug. 1, the House and Senate remain far apart and, according to Senate President Karen Spilka, House leaders last weekend rejected the latest proposals.

Lawmakers do not intend to intervene and change the proportional formula for returning nearly $3 billion to taxpayers “midstream,” but they will set their sights on reshaping the tax relief law to make it less “regressive” in the future, a top House Democrat said Tuesday.

A clear majority of likely Massachusetts voters want the Legislature and Gov. Maura Healey to leave untouched the 1986 tax law that triggered nearly $3 billion in mandatory rebates last year, and wide-ranging tax cuts appear more popular than a targeted approach, according to new polling results.

A clear majority of likely Massachusetts voters want the Legislature and Gov. Maura Healey to leave untouched the 1986 tax law that triggered nearly $3 billion in mandatory rebates last year, and wide-ranging tax cuts appear more popular than a targeted approach, according to new polling results.

The plan itself totals $859 million in tax relief and would offer breaks to many Massachusetts residents. However, the administration has been receiving some backlash.

State tax revenues soared over the last two years as Massachusetts has emerged from the pandemic, and the details and impacts of that dynamic are laid out in the annual Statutory Basis Financial Report (SBFR), a comprehensive document accounting for nearly all aspects of the state’s finances.

Lawmakers moved closer to reviving a stalled economic development bill they shelved two and a half months ago now that Auditor Suzanne Bump on Thursday certified that Massachusetts must return nearly $3 billion to taxpayers.

The day after progressive Democrats introduced a bill to limit the size of tax refunds set this fall to flow back in the largest amounts to the highest earners, bill sponsors say five legislators have so far signed on but there’s “no indication” that top House or Senate Democrats are on board.

House and Senate negotiators struck early morning agreements Monday on sports betting and mental health access but will keep a significant economic development bill in conference committee as they continue to wrestle with an existing law that could trigger nearly $3 billion in tax relief this year.