AN ACT EXEMPTING REAL PROPERTY OWNED BY DEVELOPSPRINGFIELD CORPORATION FROM TAXATION.
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. Real property owned by DevelopSpringfield Corporation shall not be subject to taxation by the city of Springfield until 10 years from the date of its acquisition or until such property is leased, rented or otherwise disposed of, whichever is first.
SECTION 2. This act shall take effect upon its passage.
Approved, December 24, 2014.