MA H2919

Bill

Updating interest rates for property tax abatements

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd 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 the current 8% to a rate equal to the federal funds rate as 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 for property tax abatements with current market conditions, rather than using a fixed 8% rate.

Committee Categories

Budget and Finance

Sponsors (1)

Ken Gordon (D)*,

Last Action

Accompanied a study order, see H5043 (on 08/29/2022)

Official Document

https://malegislature.gov/Bills/192/H2919

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2919
Bill	https://malegislature.gov/Bills/192/H2919.pdf

Bill	Bill Name	Last Action	Type
H5043	Revenue	No further action taken	Replaced by
S1075	Relative to prejudgment interest rates	Accompanied a study order, see S2665	Similar To
S1931	Relative to equalizing the Department of Revenue interest rates	Accompanied H2956	Similar To
S2393	To modernize property tax abatements for veterans	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > H2919

MA H2919

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

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bill summary