MA H3934

Establishes a Town of Plymouth Land Bank administered by a nine-member Commission appointed by the Select Board (2), Town Meeting through COPC (2), Planning Board (2), Affordable Housing Trust (1), Open Space Committee (1), and Land Use and Acquisition Committee (1)

Imposes a 2% transaction fee on real property transfers in Plymouth to fund the Land Bank, with the Commission able to adjust the rate between 1-2% annually; the fee applies at time of transfer and is the purchaser's liability

Authorizes the Land Bank to acquire, hold, and manage land for four categories: natural/open space/passive recreation, active recreation, municipal use, and affordable housing (requiring at least 50% of units be deed-restricted at or below 60% AMI)

Provides exemptions from the transaction fee for government transfers, family gifts, first-time homebuyers (up to $350,000), foreclosures, charitable/religious organizations, and affordable housing developments meeting Subsidized Housing Inventory requirements

Requires voter approval at a Town election to take effect, with the act becoming effective 90 days after voter acceptance is certified by the Town Clerk