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S 2042

An Act relative to economic development tax credits

194th Legislature (2025-2026) Introduced by Mark Montigny

Massachusetts bill adjusting economic development tax credits, with hearing scheduled October 28, 2025 to determine fiscal impact and business eligibility standards.

Reporting date extended to Thursday June 25, 2026
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Bill Summary · S 2042

Legislative bill overview

S 2042 is a Massachusetts bill that addresses economic development tax credits, though specific provisions aren't detailed in the available information. The bill was introduced by Senator Mark Montigny and referred to the Revenue Committee in February 2025, with a hearing scheduled for late October 2025.

Why is this important

Economic development tax credits are tools states use to incentivize business investment, job creation, and regional growth. How these credits are structured—their size, eligibility requirements, and duration—significantly affects state tax revenue, business competitiveness, and whether intended economic benefits actually materialize in targeted communities.

Potential points of contention

  • Fiscal impact: Whether tax credit costs are offset by genuine economic growth or represent foregone revenue without equivalent returns
  • Eligibility and targeting: Questions about which businesses/regions qualify, and whether credits disproportionately benefit large corporations versus small businesses or disadvantaged areas
  • Accountability mechanisms: Whether the bill includes sufficient oversight to verify that tax credits achieve their stated economic development goals

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

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