Bill > S2070

This bill modifies Section 5 of Chapter 59 of the General Laws to allow cities and towns to annually increase veteran tax abatements by an amount not exceeding the increase in the Consumer Price Index (CPI) for that year. The CPI is a measure of the average change in prices paid by urban consumers for goods and services, essentially tracking inflation. Currently, various clauses (Twenty-second through Twenty-second H) provide tax abatements for veterans, and this bill ensures that these abatements can be adjusted each year to help veterans keep pace with rising living costs. By allowing municipalities to incrementally raise these abatements based on the CPI, the bill aims to provide more meaningful financial relief to veterans by preventing the real value of their tax breaks from being eroded by inflation over time.

Budget and Finance

https://malegislature.gov/Bills/194/S2070