Legislative Brief_MassCPAs

News & Updates from the Government Affairs Team

We're working to keep you informed in a world that changes by the minute. If you have anything you'd like to share, or if we can help you in any way, please email Zach Donah or Larry Liuzzo.

Massachusetts House of Representatives Passes ARPA Bill; Senate Unveils Companion Bill, Includes Forgiven PPP Loan Tax Exemption

Last week, the Massachusetts House of Representatives debated and passed legislation that includes, in part, language that would make forgiven 2021 Paycheck Protection Program (PPP) loans and other federal loans and state-specific grants nontaxable in Massachusetts for all recipients. State Representatives filed 1,126 amendments, which were largely consolidated under four “mega-amendments,” and added about $174 million to the bill that was unveiled last week. The Massachusetts House passed a final $3.82 billion bill with a 159-0 vote.

The legislation consists of state surplus money and a portion of the American Rescue Plan Act (ARPA) funds received earlier this year, leaving roughly $2.75 billion in those funds to be allocated in the future.

MassCPAs' government affairs team and MassCPAs CPA Advocates contacted Massachusetts House leaders and representatives to offer our support of the legislation, particularly Sections 69 and 70, which address the forgiven PPP loans and other federal and state loans and grants and reiterated the importance of passing the bill as soon as possible.

Thank you to our MassCPAs CPA Advocates for your assistance with our advocacy efforts and for contacting your State Representatives to support the legislation!

The Senate released its own $3.67 billion legislation this week, which largely mirrors the original spending package that the House released last week, and also includes language that would make forgiven 2021 Paycheck Protection Program (PPP) loans and other federal loans and state-specific grants nontaxable in Massachusetts for all recipients. We look forward to working with the Senate to see this legislation passed as soon as possible. We will keep you posted on any developments.

Biden Administration Announces Federal Vaccine Rules for Private Companies, Official Guidance Expected Soon

Today, the Biden Administration announced federal vaccine rules for companies with 100 or more employees. Please note: The Occupational Safety and Health Administration (OSHA) is expected to release the official rules and guidance soon.

Under the federal rule, companies must ensure their workforce is either fully vaccinated by January 4, 2022, or must produce a negative COVID-19 test at least once a week. Under the rule, employers must allow paid time off for workers to get vaccinated and provide sick leave for workers to recover from any side effects.

Individuals choosing to not get the COVID-19 vaccine must provide a negative COVID-19 test at least once a week and wear a mask while working. Employers are not required to cover the cost for COVID-19 testing.

To read the official transcript of The White House Press Briefing on this subject, click here.

November 2021 Municipal Elections

Voters across Massachusetts took to the polls on Tuesday to cast their votes largely for candidates for mayor, council, school committee and other municipal offices.

Below are some of the more closely watched races in the state:

Boston City Councilor Michelle Wu defeated fellow City Councilor Annissa Essaibi George in the race to become the City’s next mayor. Mayor-elect Wu will be sworn in as mayor on November 16.
Former Framingham City Councilor Charles Sisitsky defeated Mayor Yvonne Spicer, the City’s first mayor since changing its charter from a town to a city government, and will become the City’s second mayor on January 1, 2022.
Former Gloucester City Councilor and School Committee member Greg Verga defeated Mayor Sefatia Romeo Theken and will takeover in January 2022.
Longtime Salem Mayor Kim Driscoll defeated City Councilor Steve Dribble and will begin her fifth term in January 2022.
Holyoke elected Blandford Town Administrator Joshua Garcia as its next mayor, defeating City Councilor Michael Sullivan.

For more election results, click here. Check your local newspapers for more election news in your neighborhood.

Massachusetts October Revenue Collections at $2.445 Billion

The Massachusetts Department of Revenue (DOR) announced October 2021 revenue collections totaled $2.445 billion, which is $356 million (17%) more than October 2020 and $197 million (8.7%) above monthly benchmarks.

FY22 year-to-date collections total $11.197 billion, which is $1.858 billion (19.9%) more than the same period of FY21, and $723 million (6.9%) more than year-to-date benchmark.

For more details on the October 2021 revenue collections, click here.

DOR & IRS Updates

Guidance for Paycheck Protection Program (PPP)

Virtual Federal Tax Camp (12/8, 12/9 or 12/10)

Join Sue Smith, CPA, on December 8, 9 or 10 for our Virtual Federal Tax Camp! Smith will provide the latest updates on the most important legislative and regulatory developments of the season, as well as major trends and changes in case law, with a view toward planning considerations. REGISTER

Register today with the promo code EARLY to save $25 on your registration! This offer ends on November 30. This could be free if you register by November 17, 18 or 19! Learn more here.

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