SB 303-FN (2004): relative to the strengthening the requirements for qualified investment company status and the resulting exemption from business taxes, and eliminating the tax-exempt status of qualified investment capital companies.

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“SB 303-FN (2004): relative to the strengthening the requirements for qualified investment company status and the resulting exemption from business taxes, and eliminating the tax-exempt status of qualified investment capital companies.” Granite Record, https://graniterecord.org/bill/2004/sb303. Accessed 24 Oct. 2026.
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Granite Record. “SB 303-FN (2004): relative to the strengthening the requirements for qualified investment company status and the resulting exemption from business taxes, and eliminating the tax-exempt status of qualified investment capital companies.” Accessed 24 Oct. 2026. https://graniterecord.org/bill/2004/sb303.
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@misc{bill-2004-sb303, title = {SB 303-FN (2004): relative to the strengthening the requirements for qualified investment company status and the resulting exemption from business taxes, and eliminating the tax-exempt status of qualified investment capital companies.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2004/sb303}, note = {Accessed 24 Oct. 2026} }

SB 303-FN (2004)

relative to the strengthening the requirements for qualified investment company status and the resulting exemption from business taxes, and eliminating the tax-exempt status of qualified investment capital companies.

  • Status: Signed into law
  • Term: 2003-2004
  • House committee: Ways and Means
  • Senate committee: Finance
  • Subject: Taxes - State
  • Chapter law: 143

The Story

It was introduced on January 7, 2004 and referred to the Senate Finance committee. The committee held a public hearing on March 8, 2004. The committee recommended that the Senate pass it with changes (amendment 0732). The committee's amendment (0732) was adopted on a voice vote on March 17, 2004, changing the text of the bill. A floor amendment (0828), offered by Sen. Barnes, was adopted on a voice vote on March 17, 2004, changing the text of the bill. On March 17, 2004 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. On March 17, 2004 the Senate voted to pass it. It crossed to the House on March 18, 2004 and was referred to the House Ways and Means committee. The committee held public hearings on March 30, 2004 and April 13, 2004. The majority of the committee recommended that the House pass it with changes unanimously, 18–0. On April 22, 2004 the House voted to pass it with changes on a voice vote. On May 6, 2004 the Senate voted to agree to the other chamber's changes on a voice vote, on a motion by Sen. Green. The bill was enrolled on May 13, 2004 — the final check of the text before it goes to the governor. The governor signed it on May 24, 2004, making it Chapter 143 of the session laws. It took effect on May 24, 2004.

Sponsors

Hearings and Sessions

  • March 8, 2004, 10:15 AM: hearing, Senate Finance, SH 103
  • March 30, 2004, 1:15 PM: hearing, House Ways and Means, RM203,LOB
  • April 13, 2004, 10:00 AM: hearing, House Ways and Means, RM202,LOB

Votes

  • March 17, 2004, Senate: Ought to Pass with Amendment — voice vote, passed
  • April 22, 2004, House: Ought to Pass with Amendment — voice vote, passed
  • May 6, 2004, Senate: Concur with House Amendment — voice vote, passed

The Docket

  • January 7, 2004: Introduced and Referred to Finance
  • January 20, 2004: Hearing; === CANCELLED === January 20, 2004, Room 103, SH, 10:15 a.m.; SC3
  • March 8, 2004: Hearing; March 8, 2004, Room 103, SH, 10:15 a.m.; SC9
  • March 12, 2004: Committee Report; Ought to Pass with Amendment{0732},(New Title), [03/17/04]; SC11, Pg.7-10
  • March 17, 2004: Committee Amendment{0732},(New Title), AA, VV
  • March 17, 2004: Sen. Barnes Floor Amendment{0828},(New Title), AA, VV
  • March 17, 2004: Ought to Pass as Amended{0732},(New Title),{0828},(2nd New Title), MA, VV; OT3rdg
  • March 17, 2004: Passed by 3rd Reading Resolution
  • March 18, 2004: Introduced and ref to Ways & Means
  • March 18, 2004: Report due Early <f>
  • March 30, 2004: Hearing Mar 30 1:15 RM203,LOB
  • April 13, 2004: Continued Hearing Apr 13 10:00 RM202,LOB
  • April 14, 2004: Maj Report OTP/AM for Apr 22 (vote 18-0;Reg)
  • April 14, 2004: Prop Comm Am{1228}(New Title)
  • April 22, 2004: Comm Am, AA VV; Passed with Am VV
  • May 6, 2004: Sen. Green Moved to Concur with House Amendment, MA, VV
  • May 6, 2004: Enrolled [05/06/04]
  • May 13, 2004: Enrolled
  • May 24, 2004: Signed by the Governor on 05/24/04 Eff. 05/24/04; Chapter 0143

Laws It Would Change

From the General Court