MA H3114

Establishes a $450,000,000 Senior Property Tax Deferral Revolving Fund to provide loans to cities and towns equal to 100% of deferred property taxes for eligible seniors

Allows homeowners age 65 or older who have owned and occupied property in Massachusetts for at least 5 years to defer property taxes by checking a box on their tax bill and entering a deferral agreement with the local board of assessors

Caps total deferred taxes plus interest at 60% of the owner's proportional share of the property's fair cash value

Requires repayment of deferred taxes with interest upon sale or transfer of the property, or upon death of the owner (and surviving spouse if applicable), with funds returned to the state revolving fund

Authorizes the state treasurer to issue up to $450,000,000 in bonds, payable by June 30, 2058, to fund the program