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H3113 • 2025

An Act updating interest rates for property tax abatements

An Act updating interest rates for property tax abatements

Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Kenneth I. Gordon
Last action
2026-03-09
Official status
Accompanied a study order, see H5195
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act updating interest rates for property tax abatements

An Act updating interest rates for property tax abatements By Representative Gordon of Bedford, a petition (accompanied by bill, House, No.

What This Bill Does

  • An Act updating interest rates for property tax abatements By Representative Gordon of Bedford, a petition (accompanied by bill, House, No.
  • 3113) of Kenneth I.
  • Gordon relative to the rate of interest applied to judgements for tax abatements on personal property.
  • Revenue.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-03-09 House

    Accompanied a study order, see H5195

  2. 2025-10-28 Joint

    Hearing scheduled for 11/07/2025 from 10:00 AM-02:00 PM in Gardner Auditorium

  3. 2025-07-14 Joint

    Hearing canceled – new hearing TBD

  4. 2025-07-11 Joint

    Hearing scheduled for 07/22/2025 from 01:00 PM-05:00 PM in A-2

  5. 2025-02-27 House

    Referred to the committee on Revenue

  6. 2025-02-27 Senate

    Senate concurred

Official Summary Text

An Act updating interest rates for property tax abatements
By Representative Gordon of Bedford, a petition (accompanied by bill, House, No. 3113) of Kenneth I. Gordon relative to the rate of interest applied to judgements for tax abatements on personal property. Revenue.

Current Bill Text

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Bill H.3113

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”

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