SECTION  1:    Chapter 59 of the general laws is hereby amended by inserting after section 38, as appearing in the 2018 official edition, the following section:-

Section 38 1/2     In a city or town that accepts this section, the assessed valuation of real property owned by a person who has occupied said property for 30 years, shall be set at the valuation of the property pursuant to section 38 in the thirtieth year of domicile; provided, however, that said owner's income shall not exceed 100 percent of the area median income as determined by the federal Department of Housing and Urban Development; and provided further, that said owner shall not have more than $100,000 in liquid assets, excluding the value of their domicile.  Said valuation shall not increase unless and until the real property is sold or transferred.