Bill > H2942

This bill authorizes the city of Boston to fund affordable housing through a fee of up to 2 percent on certain real estate transfers. The fee would be split equally between the seller and the purchaser, with some exemptions for transfers between family members, transfers of convenience, transfers to government entities, and transfers where the sale price is under $2 million. The revenue from the fees would be deposited into the city's Neighborhood Housing Trust and could be used for programs related to housing acquisition, affordability, creation, preservation, stability, and addressing disparities in housing access and opportunity. The city is required to issue an annual report on the fee receipts and the use of the funds.