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Schedule SC, Septic Credit

page 2

Part 3. Current Year Credit

08 Maximum Septic Credit available this year. If Certificate of Compliance or verification letter was issued in 2015, enter

the smaller of line 7 or $1,500. If claiming a carryover credit, enter the smaller of 2014 Schedule SC, line 15, col. C

or $1,500. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

09 Adjusted Septic Credit. Multiply line 8 by the percentage in line 2. Enter the result in line 9 . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Interest subsidy received, if any (from Part 5, line 36) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

11 Adjusted Septic Credit available for 2015. Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Total tax from Form 1, line 28 or Form 1-NR/PY, line 32 less Limited Income Credit, and/or Credit for Taxes Paid to

Other Jurisdictions, and/or certain other credits, if any. Not less than “0”. See instructions . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Massachusetts Septic Credit allowable this year. Enter the smaller of line 11 or line 12 here and on Form 1, Schedule Z

or Form 1-NR/PY, Schedule Z. You must enclose Schedule SC with your return. Failure to do so will result in this credit

being disallowed on your tax return and an adjustment of your reported tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Part 4. Unused Septic Credit Carryover

Complete only if line 7 is more than line 13, or if you have unused credits from prior years.

Year Certificate

a. Total credit available

b. Portion used

c. Unused credit available

of Compliance

this year (2015

Subtract col. b. from col. a

was issued

Sch. SC, line 13)

Amount

For

14 2011

(2014 Sch. SC, line 15, col. c)

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

2016

2012

(2014 Sch. SC, line 15, col. c)

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

2016–2017

2013

(2014 Sch. SC, line 15, col. c)

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

2016–2018

2014

(2014 Sch. SC, line 15, col. c)

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

2016–2019

2015

(2015 Schedule SC, line 7)

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

2016–2020

15 Totals

$ . . . . . . . . . . . . . . . .

$ . . . . . . . . . . . . . . . . . . .

$. . . . . . . . . . . . . . .

Part 5. Computation of Interest Subsidy

If Certificate of Compliance or verification letter was issued in 2015, only complete lines 31 through 36. If claiming a carryover credit, complete all

applicable lines.

16 Total amount of loan or betterment outstanding during 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

17 Number of days the loan or betterment was issued during 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

18 Amount in line 16 × (number of days in line 17 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Total amount of loan or betterment outstanding during 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

20 Number of days the loan or betterment was issued during 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

21 Amount in line 19 × (number of days in line 20 ÷ 365) × 4.5%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

22 Total amount of loan or betterment outstanding during 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

23 Number of days the loan or betterment was issued for during 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

24 Amount in line 22 × (number of days in line 23 ÷ 365) × 4% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

25 Total amount of loan or betterment outstanding during 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

26 Number of days the loan or betterment was issued for during 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

27 Amount in line 25 × (number of days in line 26 ÷ 365) × 4% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

28 Total amount of loan or betterment outstanding during 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

29 Number of days the loan or betterment was issued for during 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

30 Amount in line 28 × (number of days in line 29 ÷ 365) × 4% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

31 Total amount of loan or betterment outstanding during 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

32 Number of days the loan or betterment was issued for during 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

33 Amount in line 31 × (number of days in line 32 ÷ 365) × 4% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

34 Total interest at market rate. Add lines 18, 21, 24, 27, 30 and 33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

35 Total interest actually paid on the loan or betterment. If Certificate of Compliance or verification letter was issued

in 2015, enter the amount of interest paid in 2015. If claiming a carryover credit, enter the total interest paid during

all periods listed above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

36 Amount of interest subsidy. Subtract line 35 from line 34. Enter result here and in Part 3, line 10 . . . . . . . . . . . . . . . . . . . 36