Bill > S1994

This bill proposes to modify Massachusetts tax law by requiring certain not-for-profit corporations to pay real property taxes, specifically targeting organizations with total assets exceeding $10 million. Under the proposed legislation, a not-for-profit corporation as defined in chapter 180 of Massachusetts General Laws would be required to pay taxes on real property if its total assets meet or exceed the $10 million threshold, as reported in their annual financial statements submitted to the secretary of state's office. However, the bill includes important exemptions for not-for-profit health and human service providers, churches, synagogues, and other places of worship, which would remain exempt from real property taxation. This legislation aims to increase tax revenue by requiring larger not-for-profit organizations to contribute to local tax bases, while preserving tax exemptions for religious and certain charitable organizations. The bill represents an effort to address perceived inequities in property tax assessment and to generate additional revenue for local governments.

Budget and Finance

https://malegislature.gov/Bills/194/S1994