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SD 3883

Community Investment Tax Credit (CITC) 2025 Annual Report

194th Legislature (2025-2026)

The bill would require an annual report detailing the Community Investment Tax Credit program’s activity, impacts, and administration.

Placed on file
0
WeVote Research Nonpartisan
Bill Summary · SD 3883

Summary: Massachusetts Bill SD 3883 (194th Legislature) — Community Investment Tax Credit (CITC) 2025 Annual Report

Overview and Purpose

  • The bill is titled “Community Investment Tax Credit (CITC) 2025 Annual Report.”
  • Objective: Establish and/or mandate a reporting framework related to a Community Investment Tax Credit program, including requirements for an annual report on the program's activity, impact, and administration.
  • The bill’s action history indicates it was placed on file as of May 4, 2026, suggesting it has moved to a formal disposition stage without immediate enactment or further amendments.

Key Provisions (What the bill would do)

  • Annual Reporting Requirement: The primary substantive feature is an obligation to produce an annual report on the CITC program. This report would likely cover:
    • Total credits issued under the CITC in the reporting year.
    • Eligible investments, projects, or activities receiving CITC support.
    • Geographic and sector distribution of credits and investments.
    • Economic and community impact metrics (e.g., job creation, maintained employment, investment leveraged, neighborhood or community development outcomes).
    • Fiscal impact, including the cost of the credits to state revenue and any anticipated revenue effects.
    • Administrative details, including program administration, eligibility criteria, and compliance status.
  • Program Monitoring and Evaluation: The report would presumably evaluate whether the CITC program is meeting its stated goals (e.g., stimulating investment in underserved communities, catalyzing private capital, promoting blight remediation, or economic development).
  • Transparency and Accountability: The reporting requirement is intended to provide data for oversight, informing lawmakers, the administration, and the public about the CITC program's effectiveness and financial footprint.

Note: The exact statutory language (definitions, thresholds, reporting cadence, and responsible agencies) is not provided in the summary you supplied. The above reflects typical contents of an “annual report” requirement for a tax credit program.

Who Would Be Affected

  • Eligible taxpayers and investors participating in the Community Investment Tax Credit program (primary beneficiaries of the tax credit) would be indirectly affected by the transparency and accountability measures.
  • State agencies responsible for administering the CITC program (likely the Massachusetts Department of Revenue or a designated economic development or revenue agency) would be required to collect data, compile, and publish the annual report.
  • Legislators and policymakers would gain access to standardized information to assess program effectiveness and make future policy decisions.
  • Communities targeted by the CITC (e.g., low- and moderate-income areas or designated investment zones) could benefit from improved program design and accountability stemming from the reporting process.

Procedural and Timeline Aspects

  • Status: Placed on file (2026-05-04). This indicates the bill has been positioned for formal consideration, but it is not necessarily enacted into law at this time.
  • Timeline Implications: If enacted, the bill would set an ongoing annual reporting cycle. The bill would specify a reporting deadline (e.g., by a certain date each year) and the agency responsible for preparation and submission, along with potential public release requirements.

Potential Impacts and Considerations

  • Financial Impact: The annual report requirement could entail administrative costs for data collection and analysis; the bill may or may not adjust fiscal allocations to support these activities.
  • Policy Insight: By systematizing data on credits issued, project outcomes, and fiscal effects, the report could inform future adjustments to the CITC program, including eligibility, cap levels, or performance benchmarks.
  • Accountability: Enhanced transparency may improve public trust and legislative oversight of the CITC program’s performance and alignment with stated goals.

If you can provide the exact text or sections (definitions, sections, or fiscal notes), I can refine this summary with precise statutory references, deadlines, agency names, and any dollar or percentage specifics.

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

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