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. Notwithstanding any general or special law to the contrary, the town of Florida may exempt a privately owned electric generation facility from local property taxation pursuant to chapter 59 of the General Laws for a period not to exceed 25 years upon the execution of, and compliance with, an agreement between said electric generation facility and the town of Florida for a payment in lieu of taxes by said electric generation facility to the town of Florida; provided, however, that the town of Florida may enter into said payment in lieu of taxes agreement provided said agreement is the result of good faith negotiations and represents a good faith attempt to make any payments in lieu of taxes required pursuant to said agreement in an amount equal to the property tax obligations as imposed pursuant to the provisions of said chapter 59. For the purposes of this act, the term electric generation facility shall include all real property and all personal property used in connection with the production, transmission and distribution of electricity.
SECTION 2. This act shall take effect upon its passage.
Approved February 8, 2007.