BOSTON -- Massachusetts taxpayers likely won't be getting extra tax refunds this year with state revenue officials certifying that the haul for the previous fiscal year was below the allowable amount to trigger the state's 62F tax cap law.

In a report to legislative leaders, the state Department of Revenue said the net state tax revenues of more than $39.4 billion in fiscal 2024 were below the allowable amount of $41.6 billion, leaving no excess revenues that would be subject to the rebate law.

The state returned $3 billion to more than 3.6 million taxpayers in 2022 under the voter-approved 62F law, which requires the state to refund money when tax revenues grow by more than wages and salaries.

But lawmakers approved changes to the Chapter 62F law as part of a $1 billion tax relief package, signed by Gov. Maura Healey in October, which exempted collections from the new millionaires' tax -- which sets a 4% surtax on incomes above $1 million -- from the calculation.

In the previous year, the state collected nearly $2.2 billion from the millionaires' tax, according to the report.

The report must still be reviewed by State Auditor Diana DiZoglio, whose office is required to submit an annual report on whether taxpayers will get extra refunds through the rebate law.

Last year, DiZoglio's office determined that the net state tax revenues of nearly $37 billion in fiscal 2023 were below the allowable amount of $41.4 billion, "resulting in no excess state tax revenues."

The Chapter 62F law was overwhelmingly approved by voters in 1986. Besides 2022, the rebate law had only been triggered once since it was approved -- in fiscal year 1987 -- when the state's actual revenues exceeded allowable revenues by nearly $30 million.

The unexpected rebates from the obscure law in 2022 took Democratic legislative leaders by surprise, prompting them to postpone a package of tax-relief measures that had already passed both the House and Senate with support from then-Republican Gov. Charlie Baker.

As part of the tax overhaul, lawmakers also required rebates under Chapter 62F to be paid out "equally" amongst taxpayers, and married taxpayers who file a joint return with the federal government must also file a joint state return.

That change was prompted by concerns raised by liberal groups that that "loopholes" in state law would allow wealthy households to skirt the millionaires' tax.

And the move to distribute the money equally means any future rebates are no longer applied to the personal income tax liability of all taxpayers on a proportional basis, which resulted in bigger refunds for those who paid more in taxes.

"It's a shame the Massachusetts legislature doesn't value a voter approved taxpayer rebate as much as the taxpayers," said Paul Craney, a spokesman for the conservative Massachusetts Fiscal Alliance, adding that 62F, "acts as a check on the Legislature for their over taxing ways."

"Unfortunately the Legislature changed the law to increase taxes through the 80% increase to the income tax but exempted that tax hike to count toward the rebate," he said. "The Legislature will go to great lengths to raise taxes and not give taxpayers any relief."

Christian M. Wade covers the Massachusetts Statehouse for North of Boston Media Group's newspapers and websites. Email him at [email protected].