An Act relative to funding housing and mitigating investor real estate in seasonal communities
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to increase funding for housing and address the growing influence of investors in seasonal communities like those in Massachusetts. It proposes measures to mitigate the negative impacts of investor real estate purchases, particularly in areas reliant on seasonal tourism. The legislation seeks to ensure more affordable housing options and protect the character of these communities.
Key provisions
- Provides funding for affordable housing initiatives.
- Addresses investor real estate activity in seasonal communities.
- May include measures to limit the number of properties an investor can own.
- Could establish or modify real estate transfer fees.
- Focuses on preserving housing affordability in areas with seasonal demand.
- Targets areas reliant on tourism and seasonal residents.
Who is affected
- Seasonal community residents
- Housing developers
- Investors in real estate
- Massachusetts residents
- Local governments
Notable changes
- Potentially introduces or modifies real estate transfer fees.
- Aims to curb excessive investor ownership in seasonal communities.
- Supports the creation and preservation of affordable housing.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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