Question 5 - Law Proposed by Initiative Petition

Do you approve of a law summarized below, on which no vote was taken by the Senate or the House of Representatives before May 6, 2026? Summary This proposed law would change the limit on how much revenue the state can collect in a given year. The proposal would limit state revenue in a given year to the net amount of state revenue from the year before, increased by a rate equal to the average growth of wages and salaries in Massachusetts over the most recent three years. If revenue collected by the state in a given year exceeds the limit, the excess amount would be refunded to taxpayers the following year. The proposed law would include all revenue from the surtax on incomes over $1 million when calculating the revenue limit and when determining whether state revenue exceeds the limit. The provisions of the proposed law would all be effective as of July 1, 2027. The proposed law states that, if any of its parts were declared invalid, the other parts would stay in effect. A YES VOTE would change the limit on state revenue collection, tying it to prior year collections plus average wage and salary growth, and provide for a rebate of revenue exceeding that limit. A NO VOTE would make no change in the law relative to state revenue collection.