Increases threshold from $1 million to $2 million for imposition of certain fees and taxes on certain real property transfers.

This bill increases the threshold for two real estate transfer fees from $1 million to $2 million. It applies to the sale of residential, commercial, farm properties (with residential use), and cooperative units when the sale price exceeds $2 million, and to controlling interest transfers in commercial property entities when the value exceeds $2 million. Both fees remain at 1% of the sale price or value. As a result, transactions valued between $1 million and $2 million will no longer be subject to these fees and taxes.