Bill
Bill > H2788
MA H2788
Empowering cities and towns to impose a mansion fee to support 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
Relative to empowering cities and towns to impose a mansion fee to support affordable housing. Revenue.
AI Summary
This bill empowers cities and towns in Massachusetts to impose a "mansion fee" of up to 2% on the portion of a real estate purchase price exceeding $1,000,000. The revenue generated from this fee must be deposited into the city/town's Municipal Affordable Housing Trust Fund or a regional affordable housing commission fund, and can only be used to create and preserve affordable housing through the use of affordable housing restrictions. The bill also outlines various exemptions from the fee, as well as penalties for non-payment. The imposition of the fee is subject to a 5-year duration and requires approval by the city/town's legislative body.
Committee Categories
Budget and Finance
Sponsors (2)
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/H2788 |
| BillText | https://malegislature.gov/Bills/193/H2788.pdf |
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