MA H3281

Phases out the tangible property tax on manufacturing corporations' raw material inventory over five years, reducing the rate from $2.60 per $1,000 to $0.00 by January 1, 2030

Manufacturing corporations would pay reduced rates: $2.00 per $1,000 (2026), $1.50 (2027), $1.00 (2028), $0.50 (2029), and $0.00 (2030)

Non-manufacturing business corporations continue to pay the current rate of $2.60 per $1,000 on tangible property or net worth

Limits taxable property for manufacturing corporations to only raw materials held for manufacturing purposes, excluding finished goods and work-in-progress inventory

Amends Chapter 63 of the General Laws, specifically sections 30, 39, and 42B regarding corporate taxation