Massachusetts S1994 proposes to tax real property of nonprofit corporations with assets over $10,000,000, excluding health and human service.

Massachusetts S1994 amends the General Laws to subject nonprofit corporations with total assets exceeding $10,000,000 to real property taxation. This change applies to entities reporting such assets in their financial statements included in the annual report to the secretary of state's office. Notably, the bill exempts not-for-profit health and human service providers, churches, synagogues, and other places of worship from this taxation.

Massachusetts S1994 proposes to tax real property of nonprofit corporations with assets over $10,000,000, excluding health and human service.

Massachusetts S1994 amends the General Laws to subject nonprofit corporations with total assets exceeding $10,000,000 to real property taxation. This change applies to entities reporting such assets in their financial statements included in the annual report to the secretary of state's office. Notably, the bill exempts not-for-profit health and human service providers, churches, synagogues, and other places of worship from this taxation.