Bill > H2594

This bill amends Section 5 of Chapter 59 of the General Laws to require that any real property exempt from taxation under certain clauses must be accompanied by a notice of intent to sell or convert the property for residential, industrial, or commercial use. The notice must include specific details about the proposed sale or conversion, including a copy of the purchase and sale agreement. The city or town where the property is located is then given a 120-day first refusal option to purchase the property at the offered price or, in the case of a conversion not involving a sale, to purchase the property at the full and fair market value. The bill also outlines the process for the municipality to exercise its option, including the ability to assign the option to a non-profit conservation organization or a government entity.

Budget and Finance

https://malegislature.gov/Bills/190/H2594