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Bill H.3278
SECTION 1. Section 1 of chapter 64D of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by adding the following after the words “after two dollars” as it appears the second time and before the word “provided”:-
“hereafter referred to as the existing rate”.
And in said section, after the words “two dollars” and
before the word “Notwithstanding” the following words:-
however, for sales exceeding $250,000 but less than $500,000, 1.1 multiplied by the existing rate; for sales exceeding $500,000 but less than $1,000,000, 1.6 multiplied by the existing rate, for sales exceeding $1,000,000 but less than $2,000,000 1.8 multiplied by the existing rate; for sales exceeding $2,000,000 the existing rate multiplied by 2.
SECTION 2. Said section 1 of chapter 64D is hereby further amended by inserting after the words "or the United States or any of their agencies are a party." the following words:-
"The Executive Office of Housing and Livable Communities shall equally divide such tax revenue
to initiatives to address the housing crisis and to fund the Affordable Housing Act initiatives as established in chapter 150 of the Acts of 2024."
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