BOSTON (WWLP) – The Economic Development bill remains in conference committee and lawmakers are staying tight lipped on the status of the bill.
Part of the tax relief plans were to send out $250 rebate checks to all middle class taxpayers. But, the obscure law known as chapter 62F threw the legislature for a scramble.
Chapter 62F was triggered when the state brought in nearly $3 billion worth of tax dollars over the legal limit, meaning roughly 3.6 million taxpayers are set to receive money back.
It’s estimated that the total refund for each taxpayer will be about 13 percent of a taxpayer’s personal income tax liability. With that much money being returned to taxpayers, it remains unknown if tax relief from the Economic Development bill is still on the table.
Rep. Aaron Michlewitz told 22News, “In regards to 62F that money is going to go back to the taxpayers at some point, so people will be getting checks, will we have additional money in the economic development bill? I think we need to decide whether or not, what we can and can’t afford before we make that determination.”
The Economic Development bill also includes crucial funding for things like housing, infrastructure, clean energy needs and bonding authorizations. But lawmakers are keeping a timeline of the negotiations close to the chest.
“I’m confident we’re going to get it done in the very near future,” said Sen. Michael Rodrigues of Westport.
When asked why the Economic Development bill is still in conference committee even though Chapter 62F has been settled, House Speaker Ron Mariano said that Chapter 62F has been settled in the mind of the Governor, not the legislatures.
The conference committee working on the Economic Development bill has only about a month left before all 200 seats in the House and Senate are up for election.