Imposes an additional real estate transfer tax on the sale or transfer of single-family residential property by certain large investors in an amount equal to the sale price of the single-family residential property.
Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".