| 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. |