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

This bill (A 575) raises the threshold for a 1% fee on commercial real property transfers from $1 million to $2 million. It directly affects purchasers of commercial properties (Class 4A) or controlling interests in entities holding commercial real property valued above $2 million. The key change is increasing the trigger amount for the fee, which is now calculated as 1% of the transfer value exceeding $2 million. The fee must be paid by the purchaser and collected by county recording officers at the time of deed recording. This adjustment applies to transfers recorded after the bill's effective date.