Section 5 of chapter 59 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended to add the following subsection (f) following Section 5(e):-
(f) Any hospital located within the Commonwealth, that would typically be exempt from property taxes based on its nonprofit status under this Section, shall hereby be required to pay 75% of its annual property taxes to the municipality in which it sits in order to offset the impact of the charitable property tax exemption on municipal revenues. However, any hospitals with a standing PILOT program, or any other financial agreement with their municipality arranged with the intent to offset the impact of the charitable property tax exemption, shall be exempt from the tax requirement laid out in this subsection.
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