summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the rate of interest applied to judgements for tax abatements on personal property. Revenue.
AI Summary
This bill updates the interest rate applied to judgments for tax abatements on personal property. Specifically, it changes the interest rate from a fixed 8% to a variable rate equal to the federal funds rate published by the Federal Reserve Bank of New York on July 1 of the applicable fiscal year. This change aims to align the interest rate with current market conditions, providing a more dynamic and potentially lower rate for taxpayers seeking property tax abatements.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5128 (on 11/19/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2482 |
| Bill | https://malegislature.gov/Bills/191/H2482.pdf |
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