MA H4662

Bill

Authorizing the City of Somerville to impose a real estate transfer fee

Introduced
06/27/2018

In Committee
06/27/2018

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Authorizing the City of Somerville to impose a real estate transfer fee

AI Summary

This bill authorizes the City of Somerville to impose a real estate transfer fee of up to 2% of the purchase price on real property transfers within the city. The fee is split evenly between the seller and the purchaser, with certain exemptions for transfers between family members, transfers of convenience, transfers to the government, and transfers to vulnerable seniors or individuals who qualify for a residential property tax exemption. The revenue from the fee is required to be deposited into the Somerville Affordable Housing Trust Fund and used to fund affordable housing programs in the city, with a preference for current and recent residents and employees. The city is also required to issue an annual report on the fee receipts and the impact of the affordable housing programs funded by the revenue.

Sponsors (0)

No sponsors listed

Last Action

No further action taken (on 01/01/2019)

Official Document

https://malegislature.gov/Bills/190/H4662

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H4662
Bill	https://malegislature.gov/Bills/190/H4662.pdf

Bill	Bill Name	Last Action	Type
H2788	Granting the city of Somerville the authority to require the adoption of institutional master plans subject to the review and approval by the municipality	No further action taken	Similar To
H2794	Authorizing the town of Nantucket to impose a real estate transfer fee for affordable and workforce housing	Read second and ordered to a third reading	Similar To
H3882	Authorizing the city of Somerville to impose impact fees for any development project for the purposes of funding the Green Line Extension	No further action taken	Similar To
H4582	Authorizing the City of Somerville to impose a real estate transfer fee	Accompanied a new draft, see H4662	Replaces
H4802	Authorizing the Division of Capital Asset Management and Maintenance to convey certain land in the city of Somerville to the Somerville Housing Authority	Amendment (as recommended by the committee on House Ways and Means) adopted	Similar To
H4951	Requiring the appointment of additional members to the Somerville Redevelopment Authority	Signed by the Governor, Chapter 364 of the Acts of 2018	Similar To
S1139	Authorizing the City of Somerville to borrow funds to pay certain costs of the Green Line Extension	Signed by the Governor, Chapter 21 of the Acts of 2017	Similar To
S2664	Amending the charter of the city of Somerville	New draft substituted, see S2676	Similar To
S2676	Amending the charter of the city of Somerville	Signed by the Governor, Chapter 355 of the Acts of 2018	Similar To

Bill > H4662

MA H4662

summary

Introduced Session

Bill Summary

AI Summary

Sponsors (0)

Last Action

Official Document

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