Bill > S1459

This bill aims to ensure sufficient funding for community preservation projects by adjusting surcharges, which are additional fees levied on certain real estate transactions. Specifically, it clarifies that these surcharges will not apply to the filing of a third or fourth mortgage issued by a public agency, such as a municipality or the Massachusetts Housing Partnership, nor to declarations of homestead, which protect a homeowner's primary residence from creditors. If the balance in the Massachusetts Community Preservation Trust Fund is not enough to provide a 50% matching grant to communities that have adopted the Community Preservation Act (CPA), the commissioner of revenue will increase the surcharges to meet this goal, with specific caps on surcharges for recording documents and municipal lien certificates. If even the maximum surcharges are insufficient, the matching grant will be less than 50%, and the bill also exempts certain other fees, like those for additional pages or copies, from these surcharges. The commissioner of revenue is required to provide 60 days' notice to relevant officials and the joint committee on revenue before any surcharge adjustments take effect.