Whereas, the personal property tax provides no additional revenue to the cities and towns of the commonwealth and;
Whereas, municipalities incur unnecessary expense in its administration and;
Whereas, the compliance with the reporting requirements represents an undue burden on the residence, let the following be enacted.
SECTION 1. Section 5 of Chapter 59 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting the following new clause at the end thereof: Fifty-six, personal property held principally for personal non-commercial use. Commercial use for the purposes of this section shall mean an enterprise whose net income exceeds $10,000.
SECTION 2. This act shall take effect upon its passage.
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