Massachusetts taxpayers cheered in 2022, when Beacon Hill lawmakers had to issue rebate checks due to the state collecting an unusually high amount of revenue. The rebates were required by something known as Chapter 62F.
As you might expect, those same lawmakers are attempting to repeal or alter the law requiring the rebates.
Massachusetts voters could have something to say about all of that when ballots are cast in this fall’s statewide elections.
What Is Chapter 62F?
The Massachusetts Taxpayers Foundation (MTF) says, “Chapter 62F of the Massachusetts General Laws established a limit on annual state tax revenue collections.”
“The law, passed by an initiative petition in 1986, created a process by which actual tax collections are compared to an allowable tax revenue threshold, adjusted annually on the basis of wage and salary growth in the Commonwealth,” according to the MTF. “If actual collections exceed the allowable threshold, the excess revenue is returned to eligible income tax filers in amounts proportionate to filers’ income taxes paid in the most recent tax year.”
How the Ballot Question Would Work
State House News Service reported, “Four more ballot questions have officially cleared the necessary signatures to move forward on the path to the 2026 ballot.”…