MA H3113

Replaces the fixed 8% interest rate on property tax abatement judgments with a variable rate tied to the federal funds rate as published by the Federal Reserve Bank of New York on July 1 of the applicable fiscal year

Amends Section 64 of Chapter 59 of the General Laws, which governs interest on tax abatement judgments

Amends Section 69 of Chapter 59 of the General Laws with the same interest rate change

Sponsored by Representative Kenneth I. Gordon of the 21st Middlesex District, filed January 14, 2025