Bill > S1836

This bill aims to amend Chapter 59 of the General Laws to allow cities and towns in Massachusetts to impose payments in lieu of taxation (PILOT) on organizations that are exempt from property taxes and own property valued at or above $15 million. The bill stipulates that these organizations would be required to pay 25% of the amount they would have paid if the property was not tax-exempt. The bill also allows municipalities to adopt ordinances or bylaws to provide for agreements with these organizations, which may include exemptions from payment, consideration of community benefits as payment, and administration of the payments.