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
In Committee
01/22/2019
Crossed Over
Passed
Dead
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)

Last Action

Accompanied a study order, see H5040 (on 10/15/2020)

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