S966
An Act relative to funding housing and mitigating investor real estate in seasonal communities
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Bill overview
This bill aims to increase access to housing and address concerns about investor real estate in seasonal communities within Massachusetts. It proposes to allocate funding for housing initiatives and includes provisions to mitigate the impact of speculative investment, particularly through the implementation of real estate transfer fees. The goal is to preserve affordable housing options and prevent the displacement of residents in these communities.
Key provisions
- Allocation of state funding for housing development in seasonal communities.
- Implementation of a real estate transfer fee on property sales in affected communities.
- Restrictions on the types of properties subject to the transfer fee.
- Establishment of a process for determining the appropriate level of the transfer fee.
- Potential for dedicating revenue from the transfer fee to affordable housing projects.
Who is affected
- Seasonal community residents
- Homeowners in seasonal communities
- Developers of housing in seasonal communities
- Massachusetts State Government
- Investors in seasonal real estate
Notable changes
- Introduction of a real estate transfer fee as a mechanism to regulate investment.
- Potential shift in revenue sources for affordable housing initiatives.
Sponsors
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Primary sponsor
Cosponsor
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Bill S.966 194th (Current)
An Act relative to funding housing and mitigating investor real estate in seasonal communities
By Mr. Cyr, a petition (accompanied by bill, Senate, No. 966) of Julian Cyr for legislation to fund housing and mitigating investor real estate in seasonal communities. Housing.
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Bill Information
Bill Information
Presenter: Julian Cyr Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Primary Sponsor Summary
Bill History
Displaying 4 actions for Bill S.966
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Housing |
| 2/27/2025 | House | House concurred |
| 10/3/2025 | Joint | Hearing scheduled for 10/15/2025 from 01:00 PM-05:00 PM in A-1 |
| 12/11/2025 | Senate | Bill reported favorably by committee as changed and referred to the committee on Senate Ways and Means |
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