Chap. 539.   An Act relative to the machinery and equipment
EXEMPTION UNDER THE BUSINESS AND MANUFACTURING CORPORATION EXCISE FOR A CORPORATION AFTER A REORGANIZATION.
Be it enacted, etc., as follows:
Section 1. Paragraph 7 of section 30 of chapter 63 of the General Laws, as amended by section 47 of chapter 698 of the acts of 1966, is hereby further amended by adding the following two sentences:— In the event of the merger, consolidation or other reorganization of any corporation which qualifies for a machinery and equipment exemption under this paragraph, the base for purposes of computing such exemption of any successor corporation shall not be less than the sum of the bases of each of the predecessor corporations prior to the merger, consolidation or other reorganization.   The number of taxable years that
404                Acts, 1969. — Chaps. 540, 541.
any amount of such machinery and equipment has been exempt to the predecessor corporations shall be taken into account in computing the five-year exemption to the successor corporation.
Section 2.   This act shall apply to taxable years ending on and after December thirtj'-first, nineteen hundred and sixty-nine.
Approved July 17, 1969.