Bill > S1551

This bill proposes to amend Section 5 of Chapter 59 of the General Laws to exempt certain long-term care facilities from paying local real estate taxes. Specifically, real estate used as a long-term care facility and owned by a Massachusetts entity, which is defined in the Massachusetts Code of Regulations (105 CMR 151.020), would be eligible for this exemption if it meets several criteria: it must be licensed by the Department of Public Health, owned by a charitable organization recognized as tax-exempt by the Internal Revenue Service under section 501(c)(3) of the tax code, have not paid local real estate taxes before the year 2003, and either provide room, board, or care to elders at a cost no higher than the actual expense of providing these services, or offer financial assistance to elders in the facility using the charitable organization's assets. This legislation aims to reduce the financial burden on specific types of long-term care providers that serve elders and operate as charitable organizations.