Massachusetts 2025-2026 Regular Session

Massachusetts House Bill H3193 Compare Versions

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

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1	1	1 of 1
2	2	HOUSE DOCKET, NO. 3381 FILED ON: 1/17/2025
3	3	HOUSE . . . . . . . . . . . . . . . No. 3193
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Thomas W. Moakley
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 establishing the Martha’s Vineyard housing bank.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :DATE ADDED:Thomas W. MoakleyBarnstable, Dukes and Nantucket1/17/2025 1 of 11
16	16	HOUSE DOCKET, NO. 3381 FILED ON: 1/17/2025
17	17	HOUSE . . . . . . . . . . . . . . . No. 3193
18	18	By Representative Moakley of Falmouth, a petition (accompanied by bill, House, No. 3193) of
19	19	Thomas W. Moakley for legislation to establish the Martha’s Vineyard housing bank. Revenue.
20	20	The Commonwealth of Massachusetts
21	21	_______________
22	22	In the One Hundred and Ninety-Fourth General Court
23	23	(2025-2026)
24	24	_______________
25	25	An Act establishing the Martha’s Vineyard housing bank.
26	26	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
27	27	of the same, as follows:
28	28	1 SECTION 1: For purposes of this act, the words and phrases set forth in this section
29	29	2shall have the following meanings:
30	30	3 “Affidavit of transfer fee”, an affidavit signed under the pains and penalties of perjury by
31	31	4the purchaser or settlement agent that attests to (i) the true and complete purchase or sale price of
32	32	5the transfer of the real property interest; (ii) the amount of the transfer fee owed or the basis, if
33	33	6any, upon which the transfer is exempt from the fee imposed by said transfer; (iii) the amount
34	34	7that the purchaser shall pay as required by the bylaw or regulation; and (iv) the obligation of the
35	35	8purchaser or settlement agent to make payment of the transfer fee to the regional year-round
36	36	9housing trust, as applicable.
37	37	10 “Attainable housing” and “affordable and attainable housing”, shall have the same
38	38	11meanings as set forth in section 32(a) of chapter 23B of the General Laws. 2 of 11
39	39	12 “Attainable housing restriction”, a recorded instrument held by a qualified holder which
40	40	13encumbers or restricts a real property interest so that the real property which is subject to the real
41	41	14property interest is perpetually or for a term of at least 30 years limited to use as a year-round
42	42	15residence or residential units occupied by a household with income under the level set in
43	43	16accordance with 32(a) of chapter 23B of the General Laws at the time such restriction is created.
44	44	17 “Member towns”, towns that are members of a regional year-round housing trust.
45	45	18 “Municipal affordable housing trust fund”, a municipal affordable housing trust fund
46	46	19established pursuant to section 55C of chapter 44 of the General Laws, or any other municipal
47	47	20trust fund established pursuant to a law of the commonwealth providing for the creation and
48	48	21preservation of affordable housing in a particular city or town for the benefit of low- and
49	49	22moderate-income households or for the funding of community housing..
50	50	23 “Purchaser”, the transferee, grantee, or recipient of any real property interest.
51	51	24 “Purchase price” or “sale price”, all consideration paid or transferred by or on behalf of a
52	52	25purchaser to a seller or the seller’s nominee, or for the seller’s benefit, for the transfer of any real
53	53	26property interest, and shall include, but not be limited to: (i) all cash or its equivalent so paid or
54	54	27transferred; (ii) all cash or other property paid or transferred by or on behalf of the purchaser to
55	55	28discharge or reduce any obligation of the seller; (iii) the principal amount of all notes or their
56	56	29equivalent, or other deferred payments, given or promised to be given by or on behalf of the
57	57	30purchaser to the seller or the seller’s nominee; (iv) the outstanding balance of all obligations of
58	58	31the seller which are assumed by the purchaser or to which the real property interest transferred
59	59	32remains subject after the transfer, determined at the time of transfer, but excluding real estate
60	60	33taxes and other municipal liens or assessments which are not overdue at the time of transfer; (v) 3 of 11
61	61	34the fair market value, at the time of transfer, of any other consideration or thing of value paid or
62	62	35transferred by or on behalf of the purchaser, including, but not limited to, any property, goods or
63	63	36services paid, transferred or rendered in exchange for such real property interest.
64	64	37 “Qualified holder”, a governmental body or charitable corporation or trust which
65	65	38qualifies under the terms of sections 31 through 33 of chapter 184 of the General Laws to hold an
66	66	39affordable housing restriction.
67	67	40 “Real property interest”, any present or future legal or equitable interest in or to real
68	68	41property, and any beneficial interest therein, including the interest of any beneficiary in a trust
69	69	42which holds any legal or equitable interest in real property, the interest of a partner or member in
70	70	43a partnership or limited liability company, the interest of a stockholder in a corporation, the
71	71	44interest of a holder of an option to purchase real property, the interest of a purchaser or seller
72	72	45under a contract for purchase and sale of real property, and the transferable development rights
73	73	46created under chapter 183A of the General Laws; but shall not include any interest which is
74	74	47limited to any of the following: the dominant estate in any easement or right of way; the right to
75	75	48enforce any restriction; any estate at will or at sufferance; any estate for years having a term of
76	76	49less than 30 years; any reversionary right, condition, or right of entry for condition broken; and
77	77	50the interest of a mortgagee or other secured party in any mortgage or security agreement.
78	78	51 “Regional year-round housing trust”, a trust or other entity or arrangement that maintains
79	79	52a regional year-round housing trust fund.
80	80	53 “Regional year-round housing trust fund”, a year-round housing trust fund established by
81	81	54two or more towns located in Dukes County pursuant to section 32(d)(iv) of chapter 23B of the
82	82	55General Laws. 4 of 11
83	83	56 "Seller", the transferor, grantor, or immediate former owner of any real property interest.
84	84	57 “Settlement Agent”, an escrow agent, real estate attorney, or representative of a lender or
85	85	58title company that conducts the closing or settlement of the sale or transfer of a real property
86	86	59interest including the coordination of the attendance and document signing for all the parties,
87	87	60verification that each party to the transfer has performed their required responsibilities as
88	88	61outlined in the contract and the disbursement of all funds, along with the title and deed, to the
89	89	62appropriate parties after checking that all conditions are met at the close of the transfer
90	90	63transaction.
91	91	64 “Time of transfer”, the time at which a transfer of a real property interest is legally
92	92	65effective as between the parties thereto, and, in any event, with respect to a transfer evidenced by
93	93	66an instrument recorded with the appropriate registry of deeds or filed with the assistant recorder
94	94	67of the appropriate registry district, not later than the time of such recording or filing.
95	95	68 “Transfer fee”, a fee established pursuant to section 5 of this act to be paid by the
96	96	69purchaser upon the transfer of a real property interest between a seller and a purchaser.
97	97	70 “Year-round housing”, shall have the same meaning as set forth in section 32(a) of
98	98	71chapter 23B of the General Laws.
99	99	72 “Year-round housing trust”, a year-round housing trust fund established by a single town
100	100	73located in Dukes County pursuant to section 32(d)(iv) of chapter 23B of the General Laws.
101	101	74 SECTION 2: (a)Any town or group of towns located on Martha’s Vineyard may,
102	102	75by a majority vote of its or their respective legislative bodies, establish or rescind a fee upon the 5 of 11
103	103	76transfer of any real property interest in any real property situated in such town or towns, as
104	104	77described and as subject to the conditions and exemptions described herein.
105	105	78 (b)A town or group of towns may establish different transfer fee rates for different
106	106	79classifications of properties, defined by the tax classification of such properties, and the purchase
107	107	80price of a property; provided, however, that any transfer fee shall be not less than 0.5 per cent
108	108	81and not more than 2 per cent of the portion of the purchase price of such real property interest in
109	109	82excess of the exemption threshold established pursuant to section 3(a)(i) of this act.
110	110	83 (c)The transfer fee shall be borne by the purchaser.
111	111	84 (d)The purchaser or settlement agent shall, in advance of the time of transfer, request
112	112	85and the town or regional year-round housing trust, or its designee, as applicable, shall provide to
113	113	86said purchaser or settlement agent in advance of the time of transfer a certificate indicating the
114	114	87dollar amount of the transfer fee owed based on the agreed upon purchase price as evidenced by
115	115	88an executed purchase and sale agreement, contract for sale or other document evidencing the
116	116	89agreed upon purchase price or that the transfer is exempt from the transfer fee, stating the basis
117	117	90for the exemption.
118	118	91 (e)Whenever the transfer of a real property interest will occur at or about the same
119	119	92time as a conveyance of personalty related thereto, the calculation of the fee with respect to such
120	120	93transfer shall be determined by the town or regional year-round housing trust, or its designee, as
121	121	94applicable; provided, that the allocations of payments between real estate and personalty agreed
122	122	95to by the purchaser and seller shall not determine the calculation of the transfer fee due pursuant
123	123	96to this act. 6 of 11
124	124	97 (f)The transfer fee shall be paid within 7 days of the date of transfer by the purchaser
125	125	98or settlement agent to the town or regional year-round housing trust or its designee, as
126	126	99applicable, and shall be accompanied by a copy of the deed or other instrument recorded or
127	127	100registered with the registry of deeds for the county in which the real property interest is located,
128	128	101or the assistant recorder for the registry district of the county in which the real property interest is
129	129	102located, and a copy of the affidavit of transfer fee. The town or the regional year-round housing
130	130	103trust or its designee, as applicable, shall promptly thereafter execute and issue a certificate
131	131	104indicating that the appropriate fee has been paid or that the transfer is exempt from the fee and
132	132	105stating the basis for the exemption.
133	133	106 (g)Upon receipt of a transfer fee by a regional year-round housing trust or its
134	134	107designee, the regional year-round housing trust or its designee shall deposit the transfer fee in the
135	135	108regional year-round housing trust fund. Transfer fees shall be held by the regional year-round
136	136	109housing trust in accordance with or pursuant to the terms of the agreement or other instrument
137	137	110establishing the regional year-round housing trust.
138	138	111 (h)If a town receives a transfer fee within two years after the date that this act takes
139	139	112effect and such town is not a member of a regional affordable housing trust at the time such
140	140	113transfer fee becomes effective, the town shall deposit the transfer fee with the Dukes County
141	141	114treasurer. The Dukes County treasurer shall hold all such transfer fees in segregated accounts for
142	142	115each town from which transfer fees have been received. Upon the establishment of a regional
143	143	116year-round housing trust, the Dukes County treasurer shall transfer all funds held on behalf of
144	144	117such regional year-round housing trust’s member towns to the regional year-round housing trust
145	145	118fund to be used for the creation and preservation of year-round and attainable housing within the 7 of 11
146	146	119regional year-round housing trust’s member towns in accordance with or pursuant to the terms of
147	147	120the agreement establishing the regional year-round housing trust.
148	148	121 (i)If a town on behalf of whom the Dukes County treasurer holds transfer fees does
149	149	122not become a member of a regional year-round housing trust within two years after the date that
150	150	123this act takes effect: (1) the Dukes County treasurer shall transfer all transfer fees held on behalf
151	151	124of such town to the town’s year-round housing trust, if one has been established, to be used for
152	152	125the purposes of the year-round housing trust, or otherwise to the town’s municipal affordable
153	153	126housing trust fund to be used for the purposes of the municipal affordable housing trust fund;
154	154	127and (2) the town’s transfer fee shall remain in effect and all additional transfer fees received by
155	155	128the town shall be deposited in the town’s year-round housing trust, if one has been established, to
156	156	129be used for the purposes of the year-round housing trust, or otherwise to the town’s municipal
157	157	130affordable housing trust fund, to be used for the purposes of such municipal affordable housing
158	158	131trust fund, until the town becomes a member of a regional year-round housing trust, establishes a
159	159	132year-round housing trust, or rescinds its transfer fee in accordance with section 2(a) of this act.
160	160	133 (j)If a town establishes a transfer fee pursuant to this act more than two years after
161	161	134the date that this act takes effect and such town is not a member of a regional affordable housing
162	162	135trust at the time such transfer fee becomes effective, transfer fees received by the town shall be
163	163	136deposited in the town’s year-round housing trust, if one has been established, to be used for the
164	164	137purposes of the year-round housing trust, or otherwise to municipal affordable housing trust
165	165	138fund, to be used for the purposes of such municipal affordable housing trust fund, until the town
166	166	139becomes a member of a regional year-round housing trust, establishes a year-round housing trust,
167	167	140or rescinds its transfer fee in accordance with section 2(a) of this act. 8 of 11
168	168	141 SECTION 3. (a)The following transfers of real property interests shall be exempt
169	169	142from a transfer fee adopted pursuant to this act:
170	170	143 (i)Transfers for less than $1,000,000; provided, that a town, or a regional year-round
171	171	144housing trust acting pursuant to or in accordance with the terms of the agreement establishing the
172	172	145regional year-round housing trust, may adopt a higher threshold;
173	173	146 (ii)Transfers made as gifts with consideration of less than $100;
174	174	147 (iii)Transfers between family members as defined by bylaw or regulations adopted by
175	175	148a regional year-round housing trust, as applicable;
176	176	149 (iv)Transfers to the government of the United States, the Commonwealth and any of
177	177	150their instrumentalities, agencies, or subdivisions, including but not limited to transfers from the
178	178	151town, local housing authority or regional year-round housing trust;
179	179	152 (v)Distributions by the trustees of a trust to the beneficiaries of such trust;
180	180	153 (vi)Transfers to the trustees of a trust in exchange for a beneficial interest received by
181	181	154the seller in such trust;
182	182	155 (vii)Transfers which, without additional consideration, confirm, correct, modify, or
183	183	156supplement a transfer previously made;
184	184	157 (viii)Transfers by operation of law without actual consideration, including but not
185	185	158limited to transfers occurring by virtue of the death or bankruptcy of the owner of a real property
186	186	159interest; 9 of 11
187	187	160 (ix)Transfers made in partition of land and improvements thereto, pursuant to chapter
188	188	161241 of the General Laws;
189	189	162 (x)Transfers to any charitable or religious organization, as defined pursuant to
190	190	163section 5 of chapter 59; provided, however, that the real property interest so transferred will be
191	191	164held by the charitable or religious organization solely for affordable and attainable housing-
192	192	165related uses that are consistent with the uses allowed by a municipal affordable housing trust
193	193	166fund or the regional year-round housing trust fund; and provided, further, that such housing shall
194	194	167be subject to an affirmative fair housing marketing plan approved by the executive office of
195	195	168housing and livable communities, or its successor, if applicable;
196	196	169 (xi)Transfers to a mortgagee in foreclosure of the mortgage held by such mortgagee,
197	197	170and transfers of the property subject to a mortgage to the mortgagee in consideration of the
198	198	171forbearance of the mortgagee from foreclosing said mortgage;
199	199	172 (xii)Transfers consisting of the division of marital assets under the provisions of
200	200	173section 34 of chapter 208 of the General Laws or other provisions of law; and
201	201	174 (xiii)Transfers of an interest in real property containing not less than 3 residential units
202	202	175in which not less than 1 residential unit or 25 per cent of the residential units, whichever is
203	203	176greater, is governed by affordable or attainable housing restrictions; provided, however, that the
204	204	177affordable or attainable housing restriction, as applicable, has a term remaining at the time of the
205	205	178transfer of not less than 5 years; and provided further, that if less than 100 per cent of the
206	206	179residential units are governed by affordable or attainable housing restrictions, the exemption
207	207	180shall apply only to the portion of the property that is governed by affordable or attainable
208	208	181housing restrictions and the transfer fee imposed pursuant to this act shall be proportionately 10 of 11
209	209	182reduced based on the percentage of residential units subject to affordable or attainable housing
210	210	183restrictions, as compared to the total number of units located on that property.
211	211	184 (b)The purchaser shall have the burden of proving that an exemption applies to a
212	212	185transfer of real property interest pursuant to this section; and provided further, that any otherwise
213	213	186exempt transfer shall not be exempt in the event that such transfer, by itself or as part of a series
214	214	187of transfers, was made for the primary purpose of evading the transfer fee adopted pursuant to
215	215	188this act.
216	216	189 SECTION 4. (a) Any one or more of the member towns of a regional year-round
217	217	190housing trust, as applicable, may provide for the enforcement and collection of a transfer fee
218	218	191adopted pursuant to this act, including, but not limited to the denial, revocation or suspension of
219	219	192local licenses and permits pursuant to section 57 of chapter 40 of the General Laws and the
220	220	193authority to impose a lien on real property pursuant to section 58 of chapter 40 of the General
221	221	194Laws.
222	222	195 (b)A town or regional year-round housing trust that receives real estate transfer fees
223	223	196pursuant to this act may issue rules, regulations, policies and procedures to effectuate the terms
224	224	197of this act.
225	225	198 (c)A town or regional year-round housing trust that receives real estate transfer fees
226	226	199pursuant to this act shall adopt regulations which establish a procedure by which an aggrieved
227	227	200person may appeal the transfer fee amount, in whole or in part, or the denial of an exemption.
228	228	201 (d)Any person aggrieved by a denial of relief pursuant to a regulation established
229	229	202pursuant to paragraph (c) may, within 60 days from the receipt of the notice of such denial,
230	230	203petition the appellate tax board under the provisions of chapter 58A of the General Laws. 11 of 11
231	231	204 (e)A town or a regional year-round housing trust that receives real estate transfer
232	232	205fees pursuant to this act shall submit an annual report to the executive office of housing and
233	233	206livable communities, or its successor and the department of revenue, detailing the total fees
234	234	207collected and the amounts used or planned to be used for year-round and attainable housing
235	235	208purposes in accordance with this act. A regional year-round housing trust shall provide a copy of
236	236	209such report to each of its member towns.