AUTO INSURANCE BILLS SENT TO A STUDY COMMITTEE

By Bob Katzen

Last week, several bills affecting auto insurance rates, surcharges and premiums were sent to a study committee where bills are rarely actually studied and are essentially defeated. It is a way to kill a proposal without holding a vote on the bill itself. Here are some of the bills that were sent off to a study committee.
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2.9 BILLION IN TAX RELIEF PENDING (H 5260)

By Bob Katzen

Governor Charlie Baker filed a $1.6 billion supplemental budget to close out the books on fiscal year 2022. A key section sets aside $2.9 billion of the state’s projected surplus to be returned to taxpayers based on the recent “discovery” of 62F, a 1986 law approved by the voters. That law requires that tax revenue above a certain amount collected by the state go back to the taxpayers. It is estimated that the 1986 law would return $2.9 billion in fiscal year 2022 revenue to Massachusetts taxpayers. Continue reading 2.9 BILLION IN TAX RELIEF PENDING (H 5260)