Bill > S1602

This bill amends Section 3 of Chapter 60B of the General Laws, which deals with boat registration and related taxes, by removing the existing text and replacing it with new provisions. The key change is that the excise tax, which is a tax on the privilege of registering a boat, will no longer apply to certain types of vessels. These include vessels already exempt under other laws (specifically, those described in Section 8 of Chapter 59 and Section 67 of Chapter 63), boats owned by the state or local governments, law enforcement vessels, boats under construction, ferries, and commercial fishing boats and their gear up to a value of $75,000, provided the owner relies on commercial fishing for at least 50% of their income. Additionally, boats valued at $1,000 or less will also be exempt from this excise tax, and these exemptions will not subject the vessels to any other taxes under Chapter 59.