Bill
Bill > H4208
summary
Introduced
11/18/2019
11/18/2019
In Committee
06/24/2020
06/24/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
That the town of Truro be authorized to establish a real estate transfer fee upon the transfer of certain property in said town. Revenue. [Local Approval Received.]
AI Summary
This bill authorizes the town of Truro to impose a 0.5% (half percent) real estate transfer fee on the purchase price of real property transfers in the town. The fee is the liability of the purchaser, and the first $250,000 collected each fiscal year will be deposited into the town's capital improvement stabilization fund, while the remaining funds will go into the town's general fund. The bill also outlines several exemptions to the fee, such as for first-time homebuyers, transfers to the government, and transfers between family members.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling (on 06/24/2020)
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/H4208 |
| Bill | https://malegislature.gov/Bills/191/H4208.pdf |
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