Bill
Bill > H4151
MA H4151
Authorizing the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing
summary
Introduced
04/10/2023
04/10/2023
In Committee
10/23/2023
10/23/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
Relative to authorizing the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing. Revenue.
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 the town's Affordable Housing Trust Fund to support affordable and workforce housing initiatives. The bill outlines various exemptions to the fee, such as transfers to government entities, gifts, and certain types of property divisions or business reorganizations. It also includes provisions for enforcing the fee, including penalties and interest for non-payment, and allows the fee to be renewed or modified by town meeting vote every 10 years.
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/H4151 |
| BillText | https://malegislature.gov/Bills/193/H4151.pdf |
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