An Act relative to payments in lieu of taxation by organizations exempt from the property tax

This bill requires certain large tax-exempt organizations in Massachusetts to pay 25% of the property tax they would owe if their property were taxable. It applies to organizations owning property valued at $15 million or more in cities or towns that adopt the provision. Key exceptions include "High Public Payment Hospitals" defined under state law, which remain fully exempt. The bill establishes a clear payment mechanism but does not change existing tax exemptions for qualifying nonprofits. Municipalities must first approve the provision through local vote to implement it.