Bill > H4232

This bill, titled "Relative to deeds excise receipts," proposes changes to how taxes collected from the sale of real estate, known as deeds excise receipts, are distributed. Specifically, it allows certain counties – Bristol, Dukes, Nantucket, Norfolk, and Plymouth – to keep an additional 20% of these receipts starting July 1, 2016, for their general funds to cover operational costs or future needs. Additionally, Barnstable County will retain an extra 7.5% of these receipts for similar purposes. The bill also introduces a provision for regional councils of governments (groups of local governments working together) that are established under specific laws; these councils will receive a portion of the deeds excise receipts from the registers of deeds (officials who record property transactions) within their areas, calculated based on property valuation, to fund their operations.