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HD 5286

A monthly report of the Department of Revenue (under Section 5(e) of Chapter 62F of the General Laws) on year-to-date net state tax revenue for July, 2025

194th Legislature (2025-2026)

Bill HD 5286 requires Massachusetts' Department of Revenue to report monthly on state tax revenue, ensuring transparency and fiscal accountability for budget planning.

Placed on file
0
WeVote Research Nonpartisan
Bill Summary · HD 5286

Summary of Bill HD 5286

Bill Information

  • Bill Number: HD 5286
  • Title: A monthly report of the Department of Revenue on year-to-date net state tax revenue for July, 2025
  • Status: Placed on file
  • Introduced: November 17, 2025
  • Classification: Proposed bill

Purpose and Intent

Bill HD 5286 mandates the Massachusetts Department of Revenue (DOR) to provide a monthly report detailing the year-to-date net state tax revenue for the current fiscal year, specifically for July 2025. The report aims to project the net state tax revenue for the remainder of the fiscal year and assess whether it may exceed the allowable state tax revenue as defined under Chapter 62F of the General Laws.

Key Provisions

  • Monthly Reporting Requirement: The DOR is required to submit a report that includes:

    • Year-to-date net state tax revenue, excluding the 4% income surtax revenue.
    • Projections for total net state tax revenue for the full fiscal year (FY26).
    • Estimates of allowable state tax revenue for FY26.
    • An analysis of whether net state tax revenue will exceed allowable limits for FY26.

  • Financial Estimates:

    • As of July 31, 2025, the year-to-date net state tax revenue (excluding the 4% income surtax) is reported at $2,692,201,984.
    • The estimated total net state tax revenue for FY26 is $41,950,290,464.
    • The allowable state tax revenue for FY26 is estimated at $48,126,236,596.
    • The projected shortfall of net state tax revenue compared to allowable revenue is ($6,175,946,132).

  • Exemption Clause: The bill specifies that revenues from the 4% income surtax are not subject to the limitations set by Chapter 62F.

Impact

  • Affected Entities: This bill primarily impacts the Department of Revenue, state financial analysts, and policymakers who rely on accurate tax revenue data for budgetary planning and fiscal management.
  • Public Transparency: By requiring regular reporting, the bill enhances transparency regarding state tax revenues and fiscal health, which can inform public discourse and legislative decisions.

Procedural Aspects

  • The bill was introduced on November 17, 2025, and has been placed on file, indicating it may not be actively pursued for further legislative action at this time.

Conclusion

Bill HD 5286 serves as a mechanism for ongoing financial oversight by requiring the DOR to report on state tax revenues. This ensures that stakeholders are informed about the state's fiscal status and compliance with revenue limitations, thereby promoting accountability in state financial management.

Compiled from official sources — confirm details with the bill’s official record.

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