Section 1439-BB. Imposition of tax

Notwithstanding any other provisions
  of law to the contrary, the town of Northeast, acting through  its  town
  board,  is hereby authorized and empowered to adopt a local law imposing
  in such town a tax on each  conveyance  of  real  property  or  interest
  therein  not to exceed a maximum of two percent of the consideration for
  such conveyance, subject to the exemptions set forth in section fourteen
  hundred thirty-nine-ee of this article; any such local law shall fix the
  rate of such tax.  Provided,  however,  any  such  local  law  imposing,
  repealing  or  reimposing  such  tax  shall  be  subject  to a mandatory
  referendum pursuant to section twenty-three of the municipal  home  rule
  law. Notwithstanding the foregoing, prior to adoption of such local law,
  the  town  must  establish  a  community  preservation  fund pursuant to
  section sixty-four-j of the town law. Revenues from such  tax  shall  be
  deposited  in  such fund and may be used solely for the purposes of such
  fund. Such local law shall apply to any conveyance occurring on or after
  the first day of a month to be designated by such town board,  which  is
  not  less  than  sixty  days  after the enactment of such local law, but
  shall not apply to conveyances made on or after such  date  pursuant  to
  binding written contracts entered into prior to such date, provided that
  the  date  of  execution  of  such  contract is confirmed by independent
  evidence such as the recording of the contract, payment of a deposit  or
  other facts and circumstances as determined by the treasurer.
    * NB Repealed December 31, 2028