An Act to aid economic recovery of the tourism industry

This bill aims to help the tourism industry in Massachusetts recover economically by adjusting tax rules for specific years. It lowers the interest rate charged on unpaid taxes from 14% to 7% for hotels, motels, bed and breakfasts, and lodging houses during fiscal years 2022, 2023, and 2024. Additionally, the bill allows these same types of businesses to avoid losing tax abatement benefits if they owe more than $5,000 in taxes, provided they pay the full amount without incurring interest charges. These changes apply only to the specified three-year period and target properties subject to taxation under Chapter 64G of the General Laws.