Amendment #176 to H4700

Department of Revenue Study of Tax Exemptions

Ms. Robinson of Framingham by adding the following sections:

"SECTION XXXX. Notwithstanding any general or special law to the contrary, the department of revenue shall conduct a study examining the annual loss of municipal tax revenue resulting from tax exemptions on real property assessed at a value of $1 million or more.

The study shall calculate the annual loss of tax revenue by each municipality in the commonwealth from tax-exempt real property assessed at a value of $1 million or more, including state-owned properties and properties eligible for payments in lieu of taxes.

The department shall submit a report of its findings along with any recommendations to the joint committee on revenue and the clerks of the house of representative and the senate not later than 6 months after the end of the 2022 fiscal year. The department shall revise its report and recommendations every 5 years.

SECTION YYYYY. Notwithstanding any general or special law to the contrary, municipalities shall assess the value of all tax-exempt real property for the 2022 fiscal year and every 5 years thereafter and submit the assessments to the department for the purposes of this study."

Additional co-sponsor(s) added to Amendment #176 to H4700

Department of Revenue Study of Tax Exemptions