An Act enabling a local option for a real estate transfer fee to fund affordable housing

HD 1112 allows Massachusetts cities and towns to implement a real estate transfer fee on property sales to fund affordable housing. The fee, collected by settlement agents during property closings, would be directed to municipal or regional housing trust funds. These funds must be used for acquiring, constructing, rehabilitating, or preserving housing for low- and moderate-income households (as defined by HUD). The bill provides definitions for key terms like "affordable housing purposes" and "settlement agent" to ensure consistent implementation.