summary
Introduced
04/06/2023
04/06/2023
In Committee
04/06/2023
04/06/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
That the town of Truro be authorized to impose a 0.5% real estate transfer fee in said town. Revenue. [Local Approval Received.]
AI Summary
This bill authorizes the town of Truro to impose a 0.5% real estate transfer fee. The fee will be paid by the purchaser of the real property and the funds collected will be split, with 50% going to the town's Capital Improvement Stabilization Fund and 50% going to the Affordable Housing Trust Fund. The bill also outlines several exemptions from the fee, such as transfers to first-time homebuyers, government entities, and transfers between family members. The fee is due at the time of the property transfer, and the town can collect interest and pursue legal action for any unpaid fees.
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/H3736 |
| BillText | https://malegislature.gov/Bills/193/H3736.pdf |
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