Bill
H 3903
Nantucket may impose a 0.5% real-estate transfer fee, with revenues dedicated to expanding and preserving affordable and workforce housing and related capital improvements.
Status snapshot
- Bill number: H 3903 (House bill; local resolution/act)
- Subject: Authorizes the Town of Nantucket to impose a real‑estate transfer fee to fund affordable and workforce housing and related capital improvements
- Sponsors: Representative Thomas W. Moakley and Senator Julian Cyr
- Key dates: Filed Jan 30, 2025; introduced Mar 13, 2025; House action/adopted Feb 6, 2025; scrivener’s error corrected Feb 11, 2025; Senate concurred Apr 10, 2025; hearing scheduled Sept 9, 2025 before the Revenue Committee (Gardner Auditorium).
- Related: HD 4359 (replaces)
Purpose and intent
- To authorize the Town of Nantucket to impose a municipal real‑estate transfer fee whose revenues are dedicated to expanding and preserving affordable and workforce housing and for related capital improvements in Nantucket County.
Key provisions (as provided in the bill text)
- Fee rate: Imposes a fee equal to one‑half of one percent (0.5%) of the purchase price on the transfer of any real property interest located in Nantucket County.
- Liability: The seller is legally liable for payment of the fee, regardless of private agreements shifting payment responsibility.
- Definitions: The bill provides detailed definitions for key terms, including:
- “Purchase price” (broadly defined to include cash, assumed liabilities, notes, fair market value of non‑cash consideration, etc.);
- “Real property interest” (includes present/future legal or equitable interests, partnership/LLC/corporate interests, options, contracts for sale, transferable development rights, with specified exclusions);
- “Affordable Housing Restriction” (recorded instrument limiting use to low/moderate income households for at least 30 years; upper income limit may not exceed 240% of Nantucket median income) and “qualified holder” (governmental body or charitable organization eligible under Chapter 184);
- “Housing and Community Development Fund” (a discrete fund/account to be established by the Nantucket County treasurer).
- Administration and documentation:
- Fee payable to the Town (or designee) at time of transfer and must be accompanied by the deed/instrument and affidavits from purchaser and seller attesting to true purchase price and any claimed exemption.
- The town must issue a certificate that the fee has been paid or that the transfer is exempt; the county register of deeds and assistant recorder are instructed not to record deeds (other than mortgage deeds) that lack the certificate.
- Collected fees are to be deposited with the town treasurer and placed into the Affordable Housing Trust Fund (or Housing and Community Development Fund described in the bill).
- Eligible recipients/uses: “Eligible Applicants” may include for‑profit and non‑profit entities, individuals, and public entities; funds are earmarked for affordable/workforce housing and related capital improvements.
What is not (fully) shown / outstanding items
- The posted text is truncated and does not show the full range of exemptions, specific allowable uses, administrative procedures, reporting requirements, sunset/termination provisions, or effective date language that may appear later in the full bill.
- The official file also included unrelated resolution text honoring the “Legendary Briarhoppers” (a South Carolina House resolution). The bill’s docket indicates a scrivener’s error was corrected (Feb 11, 2025), which appears to address that clerical mixing of texts.
Stakeholders affected
- Sellers of real property in Nantucket County (statutory payor of the fee).
- Purchasers (may be contractually assigned fee although seller remains legally liable).
- Real‑estate professionals, title companies, and the Nantucket registry of deeds (procedural changes for recording).
- Local affordable housing providers, municipal housing trusts, nonprofit developers, and low/moderate income households — potential recipients or beneficiaries of the dedicated revenue stream.
Procedural next steps
- Referred to the House Committee on Revenue (3/13/2025); a committee hearing is scheduled for Sept 9, 2025. The truncated bill text suggests House and Senate have already taken actions described in the docket; interested parties should consult the committee docket and the full enrolled bill text (post‑scrivener correction) for final language and any amendments.
Compiled from official sources — confirm details with the bill’s official record.
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