The proposed bill allows the town of Chatham, Massachusetts, to consolidate tax-title accounts with tax-deferred accounts for residential properties under specific conditions. This consolidation can occur when both types of accounts exist for the same property and is available to the taxpayer of record if at least one resident is disabled or aged 65 or older, the total household income does not exceed $50,000, and the taxpayer has maintained the property as their primary residence for at least five years.

Additionally, the bill stipulates that once the town consolidates these accounts, the property taxes and accrued interest owed will be governed solely by the provisions of chapter 59 of the General Laws, rather than chapter 60. This change aims to provide financial relief to qualifying residents by simplifying the management of their tax obligations. The act will take effect immediately upon passage.