Bill > S1456

This bill aims to eliminate certain tax exemptions for telecommunications companies by amending Chapter 59 of the General Laws, specifically Section 5, which deals with property tax exemptions. The key changes involve removing exemptions for telephone or telegraph corporations from property taxes on certain types of property, including machinery used in their business operations, unless that machinery is leased from a non-telecommunications corporation. This means these companies will now be subject to property taxes on more of their assets, which could lead to increased revenue for the government. The bill also clarifies that this change applies to business corporations not involved in manufacturing and telephone or telegraph corporations taxed under Section 52A of Chapter 63.