An Act relative to the taxation of inventory in manufacturing

HD 3512 modifies Massachusetts property tax rules for manufacturing corporations. It phases out the tax on manufacturing corporations' tangible property (like raw materials) over time, reducing the rate from $2.00 per $1,000 in 2026 to $0.00 by 2030. Non-manufacturing corporations remain subject to a flat $2.60 per $1,000 rate. The bill directly affects manufacturing businesses operating in Massachusetts, altering how they calculate state property tax liability. The change applies to property held as raw materials for manufacturing within the state.