SECTION 1. Chapter 64D of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by striking out section 1 and inserting in place thereof the following section: -
Section 1. There shall be levied, collected and paid, for and in respect of the deeds, instruments and writings hereinafter mentioned and described, or for or in respect of the vellum, parchment or paper upon which such deeds, instruments or writings, or any of them are written or printed, the excise taxes herein specified: Deed, instrument or writing, whereby any lands, tenements or other realty sold shall be granted, assigned, transferred or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his, her or their direction, when the consideration of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining thereon at the time of the sale, exceeds one hundred dollars and does not exceed five hundred dollars, two dollars plus an additional fee of two dollars and 28 cents; and for each additional five hundred dollars or fractional part thereof, two dollars plus an additional fee of two dollars and 28 cents; provided, however, that in Barnstable county, the excise tax herein specified shall be one dollar and 50 cents for each five hundred dollars or fractional part of said consideration plus an additional fee of one dollar and 71 cents, excluding a consideration of between zero and one hundred dollars. Notwithstanding any other provisions of this section or any other general or special law to the contrary, Nantucket county may disburse and expend deposits in said funds, except for the funds transferred to the Affordable Housing Trust Fund, the Housing Preservation and Stabilization Trust Fund, and the Global Warming Solutions Trust Fund, pursuant to section 10, for the purpose of facilities and programs related to law enforcement, including the planning, improving or constructing of police stations and other related facilities and programs. This chapter shall not apply to any instrument or writing given to secure a debt or to any deed, instrument or writing to which the commonwealth, a city or town of the commonwealth, or the United States or any of their agencies are a party.
SECTION 2. Said chapter 64D, as so appearing, is hereby amended striking out section 10 and inserting in place thereof the following section: -
Section 10. The taxes provided by this chapter shall be retained by the commonwealth; provided, however, that (i) an amount equal to 50 percent of the additional fees collected from the excise imposed by this chapter shall be transferred annually to the Global Warming Solutions Trust Fund, established by section 35GGG of chapter 10, (ii) an amount equal to 30 percent of the additional fees collected from the excise imposed by this chapter shall be transferred annually to the Affordable Housing Trust Fund, established by section 2 of chapter 121D, and (iii) an amount equal to 20 percent of the additional fees collected from the excise imposed by this chapter shall be transferred annually to the Housing Preservation and Stabilization Trust Fund, established by section 60 of chapter 121B.
SECTION 3. This act shall take effect on January 1, 2021.
The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.