Authorizes the town of Copake to establish community preservation funds and impose a real estate transfer tax.

The bill authorizes the town of Copake to establish community preservation funds and impose a real estate transfer tax on conveyances of real property. The tax revenue will be deposited into the community preservation fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a bank for transfer of development rights, and providing a management and stewardship program. Exemptions include conveyances to certain government entities and properties subject to specific development restrictions.

Authorizes the town of Copake to establish community preservation funds and impose a real estate transfer tax.

The bill authorizes the town of Copake to establish community preservation funds and impose a real estate transfer tax on conveyances of real property. The tax revenue will be deposited into the community preservation fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a bank for transfer of development rights, and providing a management and stewardship program. Exemptions include conveyances to certain government entities and properties subject to specific development restrictions.