MA S966

Cities and towns designated as "seasonal communities" may impose a real estate transfer fee of 0.5% to 2% on property sales exceeding $1,000,000, with proceeds deposited into municipal affordable housing trust funds or year-round housing trust funds

Transfer fees are exempt for government transfers, family member transfers, marital asset divisions, first-time homebuyer program participants, and properties with affordable housing restrictions covering at least 25% of units

"Low or moderate income household" is defined as gross income at or below 150% of area median income as determined by HUD, adjusted for household size

Two or more municipalities within the same county may form a regional affordable housing commission to jointly administer transfer fees and create/preserve affordable housing, with intermunicipal contracts lasting up to 25 years

Participating municipalities must submit annual reports to the Executive Office of Housing and Livable Communities detailing fees collected and affordable housing expenditures, with unused funds subject to forfeiture