Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding the provisions of any general or special law to the contrary, the United States Generating Company's electric generation facility located in the town of Charlton shall be exempt from local property taxation; provided, however, that said exemption shall be allowed for a period not to exceed twenty-five years from the effective date of this act; and, provided further, that said facility shall be exempt only if the owner thereof has entered into an agreement with the board of selectmen and the board of assessors of said town of Charlton, which boards are hereby jointly authorized to enter into such agreement for and on behalf of the town upon such terms as is deemed to be in the town's best interests, whereby said company shall: (1) forego obtaining manufacturing corporation classification and local property taxation exemption pursuant to paragraph (3) of the clause Sixteenth of section five of chapter fifty-nine of the General Laws, and (2) make a payment in lieu of taxes. Any such payment in lieu of taxes shall be greater than the local property tax and manufacturing equipment excise that the company would pay as a manufacturing corporation so classified. For the purposes of this section, electric generation facility shall mean all real property, including land, and all personal property used in connection with the production of electricity.