Bill > S1318

This bill aims to eliminate certain tax exemptions for telecommunications companies, specifically those related to property taxes. It proposes to amend Chapter 59 of the General Laws, which deals with property taxes. The key changes involve removing exemptions for telephone and telegraph corporations from property taxes on certain types of property, including machinery used in their business, when that machinery is leased from a non-telecommunications company. This means these companies will now be subject to property tax assessments on such leased machinery, and they will be required to list this property with local assessors. The bill also clarifies that this change applies to business corporations subject to tax under section 39 of chapter 63 and telephone or telegraph corporations subject to tax under section 52A of chapter 63, which are specific tax provisions for different types of businesses.