MA H3826

Bill

MA H3826

Updating interest rates for property tax abatements

Introduced
10/01/2015

In Committee
10/21/2015

Crossed Over

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

Relative to the rate of interest applied to judgements for tax abatements on personal property. Revenue.

AI Summary

This bill updates how interest rates are calculated for judgments related to property tax abatements, which are reductions in property taxes. Specifically, it changes the current fixed rate of eight percent to a variable rate that will be equal to the federal funds rate, as published by the Federal Reserve Bank of New York on July 1st of each year. This change applies to judgments concerning taxes on personal property and aims to align the interest rate with current market conditions.

Committee Categories

Budget and Finance

Sponsors (1)

Ken Gordon (D)*,

Last Action

Accompanied a study order, see H4639 (on 09/26/2016)

Official Document

https://malegislature.gov/Bills/189/House/H3826

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/House/H3826
State Bill Page	https://malegislature.gov/Bills/189/H3826
Bill	https://malegislature.gov/Bills/189/H3826.pdf

Bill	Bill Name	Last Action	Type
H2747	Providing for the annual observance of the month of May as the official month of kindness	Signed by the Governor, Chapter 83 of the Acts of 2016	Similar To
H2923	To expand membership opportunities in local cultural councils	Read second and ordered to a third reading	Similar To
H3007	Designating a portion of Route 3 as the Middlesex 3 highway	Read; and referred to the committee on Senate Rules	Similar To
H3188	Exempting the police department in the town of Burlington from the civil service law	Signed by the Governor, Chapter 25 of the Acts of 2015	Similar To
H386	Relative to social media password privacy	Accompanied a new draft, see H4143	Similar To
H4639	Revenue	Discharged to the committee on House Rules	Replaced by

Bill > H3826

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

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