An Act establishing a real estate transfer fee upon the transfer of property in the town of Concord

This bill establishes a 1% real estate transfer fee in the town of Concord for the sale of residential properties where the purchase price exceeds $1 million. The fee is paid by the buyer and applies to direct property sales as well as transfers involving entities that hold controlling interests in residential real property. Several exemptions are included, such as transfers to government bodies, charitable organizations, family members, and properties already designated for affordable housing. All collected funds must be deposited into a specific trust to support affordable housing programs within the town. To enforce this, the town will require buyers to submit proof of payment or exemption before a deed can be officially recorded.