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| 2 | 2 | | SENATE DOCKET, NO. 1229 FILED ON: 1/15/2025 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 1971 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Lydia Edwards |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act creating a graduated deed excise tax for affordable housing. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :Lydia EdwardsThird Suffolk 1 of 2 |
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| 16 | 16 | | SENATE DOCKET, NO. 1229 FILED ON: 1/15/2025 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 1971 |
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| 18 | 18 | | By Ms. Edwards, a petition (accompanied by bill, Senate, No. 1971) of Lydia Edwards for |
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| 19 | 19 | | legislation to create a graduated deed excise tax for affordable housing. Revenue. |
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| 20 | 20 | | The Commonwealth of Massachusetts |
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| 21 | 21 | | _______________ |
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| 22 | 22 | | In the One Hundred and Ninety-Fourth General Court |
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| 23 | 23 | | (2025-2026) |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | An Act creating a graduated deed excise tax for affordable housing. |
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| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 27 | 27 | | of the same, as follows: |
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| 28 | 28 | | 1 SECTION 1. Section 1 of chapter 64D of the General Laws, as appearing in the 2022 |
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| 29 | 29 | | 2Official Edition, is hereby amended by adding the following after the words “after two dollars” |
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| 30 | 30 | | 3as it appears the second time and before the word “provided”:- |
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| 31 | 31 | | 4 “hereafter referred to as the existing rate”. |
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| 32 | 32 | | 5 And in said section, after the words “two dollars” and before the word |
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| 33 | 33 | | 6“Notwithstanding” the following words:- |
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| 34 | 34 | | 7 however, for sales exceeding $250,000 but less than $500,000, 1.1 multiplied by the |
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| 35 | 35 | | 8existing rate; for sales exceeding $500,000 but less than $1,000,000, 1.6 multiplied by the |
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| 36 | 36 | | 9existing rate, for sales exceeding $1,000,000 but less than $2,000,000 1.8 multiplied by the |
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| 37 | 37 | | 10existing rate; for sales exceeding $2,000,000 the existing rate multiplied by 2. |
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| 38 | 38 | | 11 SECTION 2. Said section 1 of chapter 64D is hereby further amended by inserting after |
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| 39 | 39 | | 12the words "or the United States or any of their agencies are a party." the following words:- 2 of 2 |
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| 40 | 40 | | 13 "The Executive Office of Housing and Livable Communities shall equally divide such |
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| 41 | 41 | | 14tax revenue to initiatives to address the housing crisis and to fund the Affordable Housing Act |
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| 42 | 42 | | 15initiatives as established in chapter 150 of the Acts of 2024." |
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