Bill
Bill > H4060
summary
Introduced
08/05/2021
08/05/2021
In Committee
03/10/2022
03/10/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
That the town of Chatham be authorized to establish a real property transfer fee in said town. Revenue. [Local Approval Received.]
AI Summary
This bill establishes a real property transfer fee of 0.5% on property sales in the town of Chatham, Massachusetts for properties sold for $2 million or more. The fee is paid by the purchaser and the revenue is deposited into a special Housing Fund to create and preserve affordable and attainable housing in the town. The bill outlines various exemptions from the fee, such as transfers to government entities, gifts, family transfers, and others. It also establishes penalties for non-payment of the fee and provides the town with mechanisms to collect unpaid fees. The fee is authorized for an initial 10-year period and can be renewed or modified by a town meeting vote. Overall, the bill aims to generate revenue to address affordable and attainable housing needs in the town of Chatham.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
No further action taken (on 01/03/2023)
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/192/H4060 |
| Bill | https://malegislature.gov/Bills/192/H4060.pdf |
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