HB 717-FN-A (1998): relative to taxation of qualified investment capital companies.

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“HB 717-FN-A (1998): relative to taxation of qualified investment capital companies.” Granite Record, https://graniterecord.org/bill/1998/hb717. Accessed 24 Oct. 2026.
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@misc{bill-1998-hb717, title = {HB 717-FN-A (1998): relative to taxation of qualified investment capital companies.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/1998/hb717}, note = {Accessed 24 Oct. 2026} }

HB 717-FN-A (1998)

relative to taxation of qualified investment capital companies.

  • Status: Signed into law
  • Term: 1997-1998
  • House committee: Finance
  • Senate committee: Ways and Means
  • Subject: Taxes - State
  • Chapter law: 163

The Story

It was introduced on January 29, 1997 and referred to the House Finance committee. The committee held a public hearing on February 12, 1997. The committee held a work session on March 17, 1997. The majority of the committee recommended that the House send it back to committee unanimously, 20–0, and the report was placed on the consent calendar. On April 2, 1997 the bill was referred to the Finance committee. The committee held work sessions on May 6, 1997, June 24, 1997, July 22, 1997, September 4, 1997 and October 7, 1997. The committee met in executive session on October 20, 1997 to vote on its recommendation. The majority of the committee recommended that the House pass it with changes unanimously, 20–0. On January 15, 1998 the House voted to pass it with changes on a voice vote. It crossed to the Senate on January 29, 1998 and was referred to the Senate Ways and Means committee. The committee held a public hearing on March 3, 1998. The committee voted unanimously, 4–0, to recommend that the Senate pass it. On April 9, 1998 the Senate voted to pass it on a voice vote, then referred it on to the Senate Finance committee. The committee voted unanimously, 6–0, to recommend that the Senate pass it. On May 14, 1998 the Senate voted to pass it on a voice vote. The bill was enrolled on May 28, 1998 — the final check of the text before it goes to the governor. The governor signed it on June 9, 1998, making it Chapter 163 of the session laws. It took effect on July 1, 1998.

Sponsors

  • Rep. Belvin (Hills 14) (prime sponsor)

Hearings and Sessions

  • March 17, 1997, 2:00 PM: subcommittee work session, House Finance, RM209,LOB
  • May 6, 1997, 1:00 PM: subcommittee work session, House Finance, RM209,LOB :FINANCE
  • June 24, 1997, 10:00 AM: full committee work session, House Finance, RMS210-211,LOB :FIN
  • July 22, 1997, 11:00 AM: subcommittee work session, House Finance, RM209,LOB
  • September 4, 1997, 11:00 AM: subcommittee work session, House Finance, RM209,LOB
  • October 7, 1997, 11:00 AM: subcommittee work session, House Finance, RM209,LOB :FINANCE-DIV II
  • October 20, 1997, 9:30 AM: executive session, House Finance, RMS210-211,LOB
  • March 3, 1998, 4:00 PM: hearing, Senate Ways and Means, RM103, ST HOUSE

Votes

  • January 15, 1998, House: Ought to Pass with Amendment — voice vote, passed
  • April 9, 1998, Senate: Ought to Pass — voice vote, passed
  • May 14, 1998, Senate: Ought to Pass — voice vote, passed

The Docket

  • January 29, 1997: INTRODUCED AND REF TO FINANCE; HJ17,P282
  • February 12, 1997: HEARING FEB12 RMS210-211,LOB FOR: FINANCE
  • March 17, 1997: SUBCOM WORK & EXEC SESS MAR17 02:00 RM209,LOB FOR: FIN DIV II
  • March 26, 1997: MAJ REPORT RE-REF FOR APR02 (VOTE 20-0;CC)
  • April 2, 1997: RE-REFERRED TO FINANCE; HJ47,P1432
  • May 6, 1997: DIV II RE-REF SUBCOM WORK SESS MAY06 1:00 RM209,LOB :FINANCE
  • June 24, 1997: RE-REF FULL COMM WORK SESSION JUN24 10:00 RMS210-211,LOB :FIN
  • July 22, 1997: RE-REF DIV II SUBCOM WK SESS JUL22 11:00 RM209,LOB FOR: FIN
  • September 4, 1997: RE-REF DIV II SUBCOM WK SESS SEP04 11:00 RM209,LOB FOR: FIN
  • October 7, 1997: RE-REFER SUBCOM WORK SESS OCT07 11:00 RM209,LOB :FINANCE-DIV II
  • October 20, 1997: EXEC SESS OCT20 9:30 RMS210-211,LOB FOR: FINANCE
  • October 20, 1997: RE-REF MAJ REPORT OTP/AM FOR 1998 SESSION (VOTE 20-0)
  • October 20, 1997: PROP RE-REF MAJ AM<0134>(NEW TITLE); HC98,P2478-2480
  • January 15, 1998: COMM AM, AA VV; PASSED WITH AM VV; HJ6,P297-299 + 314
  • January 29, 1998: INTRODUCED AND REF TO WAYS & MEANS; SJ2,P26
  • March 3, 1998: HEARING MAR03 4:00 RM103, ST HOUSE FOR: WAYS & MEANS
  • April 6, 1998: COMM REPORT OTP APR09 (VOTE 4-0)
  • April 9, 1998: PASSED AND REF TO FINANCE VV; SJ10,P262
  • May 11, 1998: COMM REPORT OTP MAY14 (VOTE 6-0)
  • May 14, 1998: PASSED VV; SJ15,P351 + 370
  • May 28, 1998: ENROLLED; HJ51,P2038
  • May 28, 1998: ENROLLED; SJ17,P465
  • June 9, 1998: SIGNED BY GOVERNOR 06/09/98 EFF: 07/01/98 CHAP.0163

Laws It Would Change

From the General Court