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Bill > S1771
MA S1771
Granting a local option for a real estate transfer fee to fund affordable housing
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to grant a local option for a real estate transfer fee to fund affordable housing. Revenue.
AI Summary
This bill grants a local option for a real estate transfer fee to fund affordable housing. It allows cities, towns, or regional affordable housing commissions to impose a fee between 0.5% and 2% on the transfer of real property interests, with the revenue from this fee to be deposited in a municipal or regional affordable housing fund. The bill outlines various exemptions to this transfer fee, such as for transfers under $1 million (or a higher threshold set by the locality), transfers between family members, and transfers to first-time homebuyers. The bill also provides details on the administration and collection of the transfer fee.
Committee Categories
Budget and Finance
Sponsors (18)
Jo Comerford (D)*,
James Arena-Derosa (D),
Mike Barrett (D),
Michael Brady (D),
Mike Connolly (D),
Manny Cruz (D),
Julian Cyr (D),
Sal DiDomenico (D),
Mindy Domb (D),
Jamie Eldridge (D),
Cindy Friedman (D),
Carmine Gentile (D),
Adam Gómez (D),
Pat Jehlen (D),
Jack Lewis (D),
Jason Lewis (D),
Liz Miranda (D),
Susannah Whipps (I),
Last Action
Accompanied a study order, see H5045 (on 09/12/2024)
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/193/S1771 |
| BillText | https://malegislature.gov/Bills/193/S1771.pdf |
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