SB 58-FN-A (2011): adding qualified community development entities to the definition of "qualified investment company" under the business profits tax and the business enterprise tax.

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“SB 58-FN-A (2011): adding qualified community development entities to the definition of "qualified investment company" under the business profits tax and the business enterprise tax.” Granite Record, https://graniterecord.org/bill/2011/sb58. Accessed 24 Oct. 2026.
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@misc{bill-2011-sb58, title = {SB 58-FN-A (2011): adding qualified community development entities to the definition of "qualified investment company" under the business profits tax and the business enterprise tax.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2011/sb58}, note = {Accessed 24 Oct. 2026} }

SB 58-FN-A (2011)

adding qualified community development entities to the definition of "qualified investment company" under the business profits tax and the business enterprise tax.

  • Status: Signed into law
  • Term: 2011-2012
  • House committee: Ways and Means
  • Senate committee: Ways and Means
  • Subject: Taxes - State
  • Chapter law: 181

The Story

It was introduced on February 3, 2011 and referred to the Senate Ways and Means committee. The committee held a public hearing on February 23, 2011. The committee recommended that the Senate pass it with changes (amendment 2011-0686s). The committee's amendment (0686s) was adopted on a voice vote on March 16, 2011, changing the text of the bill. On March 16, 2011 the Senate voted to pass it with changes on a voice vote, then referred it on to the Senate Finance committee. The committee recommended that the Senate pass it with changes (amendment 2011-1181s). The committee's amendment (1181s) was adopted on a voice vote on March 30, 2011, changing the text of the bill. A floor amendment (2011-1276s), offered by Sen. Odell, was adopted on a voice vote on March 30, 2011, changing the text of the bill. On March 30, 2011 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. It crossed to the House on March 31, 2011 and was referred to the House Ways and Means committee. The committee held a public hearing on April 12, 2011. The committee met in executive session on April 21, 2011 and April 26, 2011. The committee voted unanimously, 20–0, to recommend that the House pass it with changes (amendment 1580h), and the report was placed on the regular calendar. The committee's amendment (1580h) was adopted on a voice vote on May 4, 2011, changing the text of the bill. On May 4, 2011 the House voted to pass it with changes on a roll call 281–47. On May 4, 2011 the bill was referred to the Finance committee. The committee held public hearings on May 10, 2011 and May 11, 2011. The committee voted unanimously, 25–0, to recommend that the House pass it with changes (amendment 1859h), and the report was placed on the regular calendar. The committee's amendment (1859h) was adopted on a voice vote on May 18, 2011, changing the text of the bill. On May 18, 2011 the House voted to pass it with changes on a voice vote. On June 1, 2011 the Senate adopted “Sen. Odell Concurs with House Amendment #1580h, #1859h” on a voice vote. The bill was enrolled on June 8, 2011 — the final check of the text before it goes to the governor. The governor signed it on June 14, 2011, making it Chapter 181 of the session laws.

Sponsors

Hearings and Sessions

  • February 23, 2011, 1:30 PM: hearing, Senate Ways and Means, SH 100
  • April 12, 2011, 10:45 AM: public hearing, House Ways and Means, LOB 202
  • April 21, 2011, 12:30 PM: executive session, House Ways and Means, LOB 202
  • April 26, 2011, 10:00 AM: executive session, House Ways and Means, LOB 202 If Needed
  • May 10, 2011, 10:00 AM: public hearing, House Finance, LOB 210-211
  • May 11, 2011, 9:30 AM: public hearing, House Finance, LOB 210-211

Votes

  • March 16, 2011, Senate: Ought to Pass with Amendment 0686s — voice vote, passed
  • March 30, 2011, Senate: Ought to Pass with Amendment 1181s, 1276s — voice vote, passed
  • May 4, 2011, House: OTP/AM 1580H — yeas 281, nays 47, passed
  • May 18, 2011, House: Ought to Pass with Amendment #1859h — voice vote, passed
  • June 1, 2011, Senate: Sen. Odell Concurs with House Amendment #1580h, #1859h — voice vote, passed

The Docket

  • February 3, 2011: Introduced and Referred to Ways & Means
  • February 23, 2011: Hearing: 2/23/11, Room 100, State House, 1:30 p.m.; SC12
  • March 8, 2011: Committee Report: Ought to Pass with Amendment #2011-0686s, 3/16/11; SC15
  • March 16, 2011: Committee Amendment 0686s, AA, VV
  • March 16, 2011: Ought to Pass with Amendment 0686s, MA, VV; Refer to Finance Rule 4-3
  • March 24, 2011: Committee Report: Ought to Pass with Amendment #2011-1181s, 3/30/11; SC17
  • March 30, 2011: Committee Amendment 1181s, AA, VV
  • March 30, 2011: Sen. Odell Floor Amendment #2011-1276s, AA, VV
  • March 30, 2011: Ought to Pass with Amendment 1181s, 1276s, MA, VV; OT3rdg
  • March 30, 2011: Passed by Third Reading Resolution
  • March 31, 2011: Introduced and Referred to Ways and Means
  • April 12, 2011: Public Hearing: 4/12/2011 10:45 AM LOB 202
  • April 21, 2011: Executive Session: 4/21/2011 12:30 PM LOB 202
  • April 26, 2011: Continued Executive Session: 4/26/2011 10:00 AM LOB 202 If Needed
  • April 27, 2011: Committee Report: Ought to Pass with Amendment #1580h for May 4 (Vote 20-0; RC)
  • April 27, 2011: Proposed Committee Amendment #2011-1580h
  • May 4, 2011: Amendment #1580h Adopted, VV
  • May 4, 2011: Ought to Pass with Amendment #1580h: MA RC 281-47
  • May 4, 2011: Referred to Finance
  • May 10, 2011: Public Hearing: 5/10/2011 10:00 AM LOB 210-211
  • May 11, 2011: Continued Public Hearing: 5/11/2011 9:30 AM LOB 210-211
  • May 11, 2011: Committee Report: Ought to Pass with Amendment #1859h for May 18 (Vote 25-0; RC)
  • May 11, 2011: Proposed Committee Amendment #2011-1859h
  • May 18, 2011: Amendment #1859h Adopted, VV
  • May 18, 2011: Ought to Pass with Amendment #1859h: MA VV
  • June 1, 2011: Sen. Odell Concurs with House Amendment #1580h, #1859h, MA, VV
  • June 8, 2011: Enrolled
  • June 8, 2011: Enrolled
  • June 14, 2011: Signed by the Governor on 06/14/2011; Effective 06/14/2011; Chapter 0181

Laws It Would Change

From the General Court