Chapter 59 of the General Laws is hereby amended by inserting after Section 5O the following section:-
Section 5P. (a) For the purposes of this section, the following term shall, unless the context clearly requires otherwise, have the following meanings:
“Enclosed shopping mall”, an enclosed indoor center containing common areas, retail businesses, service businesses and other commercial spaces.
(b) A municipality that accepts this section in the manner provided in section 4 of chapter 4 may levy a tax on the owner of an enclosed shopping mall, at a rate to be determined by the municipality, if the shopping mall: (i) has less than a 67 per cent occupancy rate for its available retail spaces for a continuous period of at least 9 months; and (ii) does not convert at least a certain proportion of its property, to be determined by the municipality, to other uses, to be determined by the municipality, for lease or sale.
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