H.3056 - An Act enabling a local option for a real estate transfer fee to fund affordable housing

Senate Bill: S.1937 

Current Status:  Read more.

Background: The Commonwealth currently faces a housing crisis. For decades, our Commonwealth has fallen short of producing the necessary number of new homes to keep pace with an increasing population. The scarcity of homes has caused housing values and rents to skyrocket. As a result people are leaving the now people state because it is unaffordable to live here.   

What this bill does:  This legislation would create a local option to allow municipalities to place a small tax on real estate sales, which would provide much needed funds for local affordable housing construction and maintenance.