An Act relative to PILOT agreements on replaced public housing

This bill exempts replacement public housing units from property taxes and special assessments, directly affecting housing authorities and private entities developing new public housing. It requires these entities to pay "payments in lieu of taxes" (PILOT) for the exempt portion, calculated using a formula based on the ratio of replacement unit square footage to total building square footage. The exemption applies only to the specific replacement units and associated common areas, with the PILOT amount determined by the same valuation method used for the housing authority's other properties in the city or town.