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Bill > H2471


MA H2471

Relative to tax exempt property


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to tax exempt property. Revenue.

AI Summary

This bill amends Section 5 of Chapter 59 of the General Laws to require property owners to notify the city or town where tax-exempt property is located if they intend to sell or convert the property for residential, industrial, or commercial use. The bill gives the municipality a 120-day right of first refusal to purchase the property at the bona fide offer price in the case of a sale, or at the full and fair market value in the case of a conversion. The municipality can assign this option to a non-profit conservation organization or to the state government. The bill also outlines the process for the municipality to exercise its option, including public hearings and the timeline for completing the purchase. The bill does not apply to mortgage foreclosure sales, but requires 90-day advance notice of such sales to the municipality.

Committee Categories

Budget and Finance

Sponsors (4)

Last Action

Accompanied a study order, see H5128 (on 11/19/2020)

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