HOUSE DOCKET, NO. 1278        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2947

The Commonwealth of Massachusetts

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PRESENTED BY:

Adam Scanlon

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act regarding late payments and interest rates for real estate bills and personal property taxes.

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PETITION OF:

HOUSE DOCKET, NO. 1278        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2947

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Third General Court
(2023-2024)

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An Act regarding late payments and interest rates for real estate bills and personal property taxes.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 57 of chapter 59 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out, in lines 11 through 12, the words "interest at the rate of 14 percent per annum" and inserting in place thereof the following words:-

"interest at the rate of up to 14 percent per annum, as determined by the city council, town meeting, or other equivalent legislative body"

SECTION 2. Said section 57 of chapter 59 of the General Laws, as so appearing, is hereby further amended by adding the following paragraph:-

For the purposes of carrying out the first paragraph, the collector, treasurer, or equivalent party may waive interest fees on late payments and may set up a payment plan with the party responsible for unpaid balances on real estate and personal property taxes.