Bill
Bill > H2457
MA H2457
Empowering cities and towns to impose a fee on home sales over one million dollars to support affordable housing
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to authorize cities and towns to impose a fee up to 2 per cent of the purchase price upon the transfer of certain real property. Revenue.
AI Summary
This bill would authorize cities and towns in Massachusetts to impose a fee of up to 2% of the purchase price upon the transfer of certain real property interests valued over $1 million. The fee revenue would be deposited into the city or town's affordable housing trust fund, or the statewide Affordable Housing Trust Fund if the municipality does not have such a fund. The bill outlines various exemptions from the fee, such as transfers to government entities, charitable organizations, and certain family members. It also provides for the collection and enforcement of the fee, including interest and penalties for non-payment. The fee would have a 5-year duration and could be extended, decreased, or eliminated by a vote of the city or town's legislative body.
Committee Categories
Budget and Finance
Sponsors (17)
Mike Connolly (D),
Julian Cyr (D),
Mindy Domb (D),
Jamie Eldridge (D),
Nika Elugardo (D),
Dylan Fernandes (D),
Carlos González (D),
Jim Hawkins (D),
Mary Keefe (D),
Kay Khan (D),
David LeBoeuf (D),
Jack Lewis (D),
Liz Miranda (D),
Denise Provost (D),
Maria Robinson (D),
Dave Rogers (D),
Chynah Tyler (D),
Last Action
Accompanied a study order, see H5040 (on 10/15/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://malegislature.gov/Bills/191/H2457 |
Bill | https://malegislature.gov/Bills/191/H2457.pdf |
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