An Act relative to fairness in taxation

S 1994 (An Act relative to fairness in taxation) would require non-profit corporations with total assets exceeding $10 million (as reported in their financial statements) to pay property taxes on real property they own. This bill directly affects large non-profit organizations, such as major hospitals, universities, or charities, that meet the asset threshold. The key provision mandates these entities to contribute to local property tax revenue, aligning their tax treatment more closely with for-profit property owners. The bill aims to address perceived inequities in how non-profits contribute to local tax bases.