| 4. It would increase the real estate transfer tax from $2.20 |
| per $1,000 of property value per party to $3.00 per $1,000 of |
| property value per party. All additional funds raised through |
| the real estate transfer tax as a result of this increase would |
| be deposited into a dedicated fund to provide grants to promote |
| regional efforts. This fund would be administered by the |
| Intergovernmental Advisory Group, as established in this bill. |
| Groups of municipalities, councils of government and regional |
| planning commissions may apply for grants. A county may also |
| apply for a grant if it adopts a charter and if it submits a plan |
| for regional cooperation. |