MA S3102

Bill

Authorizing the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing and related capital improvements

Introduced
08/08/2022

In Committee
09/08/2022

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to authorize the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing and related capital improvements. Revenue. [Local approval received]

AI Summary

This bill authorizes the town of Nantucket to impose a 0.5% real estate transfer fee on the purchase price of any real property interest transferred in Nantucket County. The revenue from this fee will be deposited into an Affordable Housing Trust Fund and used for affordable and workforce housing, as well as related capital improvements. The bill outlines various exemptions to the fee, such as transfers to government entities, gifts, and certain corporate restructurings. It also establishes a process for collecting and enforcing the fee, including penalties and interest for non-payment. The fee will be in effect for a 10-year period, after which it can be renewed by a majority vote at a town meeting.

Committee Categories

Budget and Finance

Sponsors (2)

Julian Cyr (D)*, Dylan Fernandes (D),

Last Action

Bill reported favorably by committee and placed in the Orders of the Day for the next session (on 09/08/2022)

Official Document

https://malegislature.gov/Bills/192/S3102

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S3102
Bill	https://malegislature.gov/Bills/192/S3102.pdf

Bill	Bill Name	Last Action	Type
H2942	Authorizing the city of Boston to fund affordable housing through a fee on certain real estate transfers	No further action taken	Similar To
H3938	Authorizing the city of Somerville to impose a real estate transfer fee	No further action taken	Similar To
H3966	Authorizing the town of Provincetown to impose a 0.5% real estate transfer fee	No further action taken	Similar To
H4201	Authorizing the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing	No further action taken	Similar To
S1853	Providing for climate change adaptation infrastructure and affordable housing investments in the Commonwealth	Accompanied a study order, see H5351	Similar To
S2025	Encouraging Public/Private Partnerships to Create Affordable Housing at Public Sites	Accompanied a study order, see S2681	Similar To
S868	Empowering cities and towns to impose a fee on certain real estate transactions to support affordable housing	Accompanied a study order, see H5351	Similar To
S882	Relative to affordable housing	Accompanied a study order, see H5276	Similar To
S895	To update Chapter 40B to support the creation of affordable housing while strengthening local oversight	Accompanied a study order, see H5276	Similar To

Bill > S3102

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary