The Massachusetts Association of Housing Co-ops is organizing around a state bill to help people who choose to live in co-ops – the hearing is Tues, June 13th – see you there? Details below:
Our Renters Tax Deduction Bill (H.3334/S.1520) will be heard before the Joint Committee on Revenue on June 13, at 10 am in State House Hearing Room B-2, in the Annex.
This Bill would permit resident owners of housing cooperatives to take advantage of the MA Renters Tax Deduction, if they do not also take the Federal Homeowners Deduction. This will be beneficial to those who do not itemize their federal taxes, and particularly those of low and moderate incomes.
The maximum deduction will be $250/year. We expect that approximately 1,000 people may take this deduction, statewide, resulting in a loss of revenue to the state of about $250,000, and relatively small amount which may be very important to those taking the deduction.
We are prioritizing outreach the members of the Revenue Committee, particularly the Chairs and those who have coops in their districts. Secondarily, we are prioritizing Legislator who have co-sponsored either of our Bills (incl. H.3017 on the Right To Purchase). And thirdly, legislators from Boston and Cambridge, as there are so many coops here. We are trying to mobilize coop members and Boards in those districts to contact their legislators directly, and to copy us on letters and communications.