Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 01, 2010 |
held for consideration in ways and means |
Jan 06, 2010 |
referred to ways and means |
Mar 19, 2009 |
referred to ways and means |
Assembly Bill A7062
2009-2010 Legislative Session
Sponsored By
CARROZZA
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A7062 (ACTIVE) - Details
2009-A7062 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7062 2009-2010 Regular Sessions I N A S S E M B L Y March 19, 2009 ___________ Introduced by M. of A. CARROZZA -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law, in relation to an exemption from municipal mortgage tax for first time home buyers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 268 to read as follows: S 268. EXEMPTION FOR FIRST TIME HOME BUYERS FROM MUNICIPAL MORTGAGE TAX. 1. EVERY MUNICIPALITY WHICH HAS ENACTED A LOCAL MORTGAGE TAX OR RECORDING TAX PURSUANT TO THE PROVISIONS OF THIS ARTICLE SHALL GRANT AN EXEMPTION FROM SUCH TAX WHERE THE MORTGAGOR IS A FIRST TIME HOME BUYER AND THE RESIDENCE BEING MORTGAGED IS INTENDED TO BE SAID MORTGAGOR'S PRINCIPAL PLACE OF RESIDENCE. 2. THE COMMISSIONER SHALL PROMULGATE NECESSARY AND ADVISABLE RULES AND REGULATIONS TO ESTABLISH GROUNDS FOR QUALIFICATION, PROOF AND PROCEDURE NECESSARY FOR A MORTGAGOR TO OBTAIN SUCH AN EXEMPTION. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law. Effective immediate- ly, the commissioner of taxation and finance shall promulgate necessary and advisable rules and regulations for the implementation of this act. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10251-01-9
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