Bill > H2581

This bill amends the Massachusetts General Laws to provide community tax relief for certain public charities and institutions of higher education. It requires public charities to report the total compensation of their five highest-paid officers, directors, trustees, and employees to the Attorney General, who must maintain a public database of this information. The bill also allows cities and towns to provide real estate tax exemptions or payments in lieu of taxes for "large public charities" (where the top five compensated individuals receive over $2.5 million in total compensation) and "large public or private institutions of higher education" (where the top five compensated individuals also receive over $2.5 million in total compensation). The tax exemptions or payments in lieu of taxes would be phased in over several years after a city or town adopts this provision.

Budget and Finance

https://malegislature.gov/Bills/191/H2581