SECTION 1. (a) For the purposes of this section, "affordable housing" shall have the same meaning as defined in section 1 of chapter 60 of the General Laws.

(b) The town of Concord may, by by-law, require the payment of an affordable housing surcharge for any construction that: (i) requires a building permit; and (ii) exceeds a minimum construction value to be determined by the select board of the town. Any such by-law shall specify the amount of the affordable housing surcharge, the method by which the surcharge may be increased from time to time and any types of construction or uses to which the affordable housing surcharge shall not apply.

(c) All fees received pursuant to this act shall be deposited in the town of Concord’s Municipal Affordable Housing Trust Fund established pursuant to section 55C of chapter 44 of the General Laws.             

SECTION 2. This act shall be submitted for acceptance to the voters of the town of Concord at an annual or special election in the form of the following question: “Shall an act passed by the general court in the year 2020 entitled: ‘An Act authorizing the town of Concord to establish an affordable housing surcharge’ be accepted?”. If a majority of votes cast in answer to the question is in the affirmative, then section 1 shall take effect in the town 30 days after such acceptance but not otherwise.