Authorizes Wawayanda to establish community preservation funds; imposes real estate transfer tax for fund revenues.

The bill authorizes the town of Wawayanda to establish community preservation funds. It allows the town to impose a real estate transfer tax, with revenues deposited in the fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a bank for development rights, and managing and stewardship programs. The tax applies to most real property transfers, with certain exemptions. The town must adopt a community preservation project plan and create an advisory board to review acquisitions.

Authorizes Wawayanda to establish community preservation funds; imposes real estate transfer tax for fund revenues.

The bill authorizes the town of Wawayanda to establish community preservation funds. It allows the town to impose a real estate transfer tax, with revenues deposited in the fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a bank for development rights, and managing and stewardship programs. The tax applies to most real property transfers, with certain exemptions. The town must adopt a community preservation project plan and create an advisory board to review acquisitions.