MA S1955

Authorizes Martha's Vineyard towns to impose a real estate transfer fee of 0.5% to 2% on property sales exceeding $1,000,000, with proceeds funding year-round and affordable housing creation and preservation

Transfer fee is paid by the purchaser within 7 days of closing and deposited into a regional year-round housing trust fund or municipal affordable housing trust fund

Exempts transfers between family members, gifts under $100, government transfers, foreclosures, divorce-related transfers, and properties with at least 25% affordable/attainable housing units

Towns may act individually or form regional year-round housing trusts with other Dukes County towns, with the Dukes County treasurer holding funds for non-member towns during a 2-year implementation period

Requires annual reporting to the Executive Office of Housing and Livable Communities and Department of Revenue on fees collected and housing expenditures