An Act updating interest rates for property tax abatements
Generates a plain-language summary of the bill text and history.
| Date | Branch | Action |
|---|---|---|
| 3/9/2026 | House | Accompanied a study order, see H5195↗ |
| 10/28/2025 | Joint | Hearing scheduled for 11/07/2025 from 10:00 AM-02:00 PM in Gardner Auditorium |
| 7/14/2025 | Joint | Hearing canceled – new hearing TBD |
| 7/11/2025 | Joint | |
| 2/27/2025 | Senate | Senate concurred |
| 2/27/2025 | House | Referred to the committee on Revenue |
| Committee | Recommendation | Vote |
|---|---|---|
| J26 | Accompanied | — |
Section 64 of chapter 59 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by striking out in line 108, the words “eight per cent” and inserting in place thereof the following words: “a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year”
Section 69 of chapter 59 of the General Laws, as so appearing, is hereby amended by striking out in line 5, the words “eight per cent” and inserting in place there of the following words: “a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year”
SECTION 1. Section 64 of chapter 59 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by striking out in line 108, the words “eight per cent” and inserting in place thereof the following words: “a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year” SECTION 2. Section 69 of chapter 59 of the General Laws, as so appearing, is hereby amended by striking out in line 5, the words “eight per cent” and inserting in place there of the following words: “a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year”