Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H2916 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	HOUSE DOCKET, NO. 1529 FILED ON: 1/18/2023
3	3	HOUSE . . . . . . . . . . . . . . . No. 2916
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Sarah K. Peake
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act authorizing the town of Provincetown to impose a 0.5% real estate transfer fee.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :DATE ADDED:Sarah K. Peake4th Barnstable1/11/2023 1 of 3
16	16	HOUSE DOCKET, NO. 1529 FILED ON: 1/18/2023
17	17	HOUSE . . . . . . . . . . . . . . . No. 2916
18	18	By Representative Peake of Provincetown, a petition (accompanied by bill, House, No. 2916) of
19	19	Sarah K. Peake (by vote of the town) that the town of Provincetown be authorized to impose a
20	20	real estate transfer fee. Revenue. [Local Approval Received.]
21	21	[SIMILAR MATTER FILED IN PREVIOUS SESSION
22	22	SEE HOUSE, NO. 3966 OF 2021-2022.]
23	23	The Commonwealth of Massachusetts
24	24	_______________
25	25	In the One Hundred and Ninety-Third General Court
26	26	(2023-2024)
27	27	_______________
28	28	An Act authorizing the town of Provincetown to impose a 0.5% real estate transfer fee.
29	29	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
30	30	of the same, as follows:
31	31	1 SECTION 1. There is hereby imposed a real estate transfer fee equal to 0.5% (half
32	32	2percent, ½%) of the purchase price upon the transfer of any real property interest in any real
33	33	3property situated in the town of Provincetown. Said fee shall be the liability of the purchaser of
34	34	4such property interest, and any agreement between the purchaser and the seller or any other
35	35	5person with reference to the allocation of the responsibility for bearing said fee shall not affect
36	36	6such liability of the purchaser. The fee shall be paid to the town of Provincetown. The first
37	37	7$250,000 collected in each fiscal year shall be deposited in the town’s capital improvement
38	38	8stabilization fund. The remaining funds collected each fiscal year shall be deposited into the
39	39	9town’s general fund. 2 of 3
40	40	10 SECTION 2. The following transfers of real property interests shall be exempt from the
41	41	11real estate transfer fee:
42	42	12 A. First time homebuyers who live in the home for at least 5 years. A lien shall
43	43	13accompany the deed stating that “There is running with the land a lien equal to the amount of fee
44	44	14exempted, plus accumulated interest and penalties until such time as all conditions of this sub-
45	45	15section are met.”
46	46	16 B. Transfers to the government of the U.S., the commonwealth, the town of
47	47	17Provincetown and any of their instrumentalities, agencies or sub-divisions, such as the
48	48	18Provincetown housing authority.
49	49	19 C. Transfers made without additional consideration to confirm, correct, modify or
50	50	20supplement a transfer previously made.
51	51	21 D. Transfers of convenience with consideration under $100.00 which include: name
52	52	22change, into trusts, out of trust, etc.
53	53	23 E. Transfers to any charitable organization as defined in clause third of section five of
54	54	24chapter 59 of the General Laws or any religious organization providing that the real property
55	55	25interests so transferred will be held solely for public charitable or religious purposes.
56	56	26 F. Transfers between family members, marriage partners, parents and children,
57	57	27grandchildren, stepparents and stepchildren, brothers and sisters.
58	58	28 SECTION 3.
59	59	29 A. The fee imposed shall be due at the time of the transfer of the real property interest. 3 of 3
60	60	30 B. The buyer shall pay interest on any unpaid amount of the fee at the rate the town
61	61	31collects on unpaid real estate taxes.
62	62	32 C. The town shall notify a buyer by registered or certified mail of any failure to discharge
63	63	33the amount in full of fee due.
64	64	34 D. All fees and interest required to be paid under this act shall constitute a personal debt
65	65	35of the buyer and may be recovered in an action of contract;
66	66	36 SECTION 4. This act shall take effect on passage.