Bill
Bill > S1786
MA S1786
Relative to a local option real estate transfer fee to create and preserve 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 relative to a local option real estate transfer fee to create and preserve housing. Revenue.
AI Summary
This bill allows cities and towns in Massachusetts, or regional affordable housing commissions, to impose a fee of between 0.5% and 3% on the transfer of real property interests, with the revenue to be used exclusively for the creation and preservation of affordable housing. The bill outlines various criteria that a municipality or regional commission must meet in order to enact such a transfer fee, as well as a list of exemptions from the fee, such as for transfers at less than 200% of the county median home sale price, transfers between family members, and transfers of property with existing affordable housing restrictions. The bill also provides details on the administration and enforcement of the transfer fee.
Committee Categories
Budget and Finance
Sponsors (1)
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/S1786 |
| BillText | https://malegislature.gov/Bills/193/S1786.pdf |
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