▸Intro / Preamble
Chapter 59 of the General Laws, is hereby amended by adding after section 5N the following section:-
▸SECTION 5O
Notwithstanding the provisions of section 5 or any other general or special law to the contrary, in a city or town that votes to accept this section pursuant to section 4 of Chapter 4, an organization exempt from taxation under clause third of said section 5 owning total property valued at or above fifteen million shall make payments in lieu of taxation on all real and personal property owned by the organization in the city or town equal to 25 percent of the amount that would be paid if the property were not exempt from taxation. Provided however that High Public Payment Hospitals as determined by the Executive Office of Health and Human Services and as defined in Section 67 Chapter 118E, shall not be subject to the requirements of this subsection.
Any city or town that accepts this section shall adopt an ordinance or bylaw to provide for agreements between the municipality and organizations that may provide for exemptions from payment, consideration of community benefits as payment and administration of payments
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Chapter 59 of the General Laws, is hereby amended by adding after section 5N the following section:-
Section 5O. Notwithstanding the provisions of section 5 or any other general or special law to the contrary, in a city or town that votes to accept this section pursuant to section 4 of Chapter 4, an organization exempt from taxation under clause third of said section 5 owning total property valued at or above fifteen million shall make payments in lieu of taxation on all real and personal property owned by the organization in the city or town equal to 25 percent of the amount that would be paid if the property were not exempt from taxation. Provided however that High Public Payment Hospitals as determined by the Executive Office of Health and Human Services and as defined in Section 67 Chapter 118E, shall not be subject to the requirements of this subsection.
Any city or town that accepts this section shall adopt an ordinance or bylaw to provide for agreements between the municipality and organizations that may provide for exemptions from payment, consideration of community benefits as payment and administration of payments