H3061
An Act addressing international real estate speculation
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- Passed Senate
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- Became Law
Bill overview
This bill proposes to impose a fee on the purchase price of real estate in Massachusetts when the buyer is a foreign national, or ‘alien purchaser.’ The goal is to address concerns about international real estate speculation and its potential impact on the state’s housing market. The revenue generated from this fee would be deposited into a special fund for affordable housing initiatives. The bill was referred to the Revenue Committee and subsequently concurred by the Senate.
Key provisions
- Imposes a fee on real estate purchases by alien purchasers.
- The fee is applied to the purchase price of the property.
- Revenue generated from the fee will be used for affordable housing.
- The bill targets transactions involving real property interests.
Who is affected
- Foreign national real estate buyers
- Real estate developers
- Massachusetts real estate market
- Affordable housing organizations
Notable changes
- This bill introduces a new mechanism for regulating real estate transactions involving foreign buyers.
- It creates a dedicated fund for affordable housing supported by this fee.
Sponsors
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Bill H.3061 194th (Current)
An Act addressing international real estate speculation
By Representative Connolly of Cambridge, a petition (accompanied by bill, House, No. 3061) of Mike Connolly relative to the imposition of a fee on the purchase price upon the transfer of real property interest to alien purchasers in certain real property transactions. Revenue.
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Bill Information
Bill Information
Presenter: Mike Connolly
Tabs
Bill History Petitioners Committee Summary Hearing Attendance
Bill History
Displaying 4 actions for Bill H.3061
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on Revenue |
| 2/27/2025 | Senate | Senate concurred |
| 9/4/2025 | Joint | Hearing scheduled for 09/15/2025 from 01:00 PM-05:00 PM in A-2 |
| 3/9/2026 | House | Accompanied a study order, see H5182 |
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