Section 1439-B. Imposition of tax

Notwithstanding any other provisions of
  law to the contrary, the town of Chatham, 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-e 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-i  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    * NB Repealed December 31, 2027
    * NB There are 3 § 1439-b's