SECTION 1. Section 5 of chapter 59 of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by inserting, in line 451, after the word "domicile," the following words:- or on loan to a charitable organization, provided, however, that no such property shall be exempt if it would not be exempt pursuant to the provisions of clause Third if such property were owned by such organization or if the owner, or his spouse, is an employee of such organization to whom compensation is paid.
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