Assembly Bill A2085

2011-2012 Legislative Session

Amends the tax law in relation to the timing of distribution of mortgage recording tax revenues by counties

download bill text pdf

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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

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2011-A2085 (ACTIVE) - Details

See Senate Version of this Bill:
S1858
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §261, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9765, S6756
2013-2014: A7006, S4873
2015-2016: A3023, S2098

2011-A2085 (ACTIVE) - Summary

Amends the tax law in relation to the timing of distribution of mortgage recording tax revenues by counties.

2011-A2085 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 1858                                                  A. 2085

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                            January 13, 2011
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to  be committed to the Committee on Investi-
  gations and Government Operations

IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
  to the Committee on Ways and Means

AN  ACT  to amend the tax law, in relation to the timing of distribution
  of mortgage recording tax revenues by counties

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision 3 of section 261 of the tax law, as amended by
chapter 287 of the laws of 2006, is amended to read as follows:
  3. On or before the tenth day of each month the recording  officer  of
each  county  shall pay over to the county treasurer of said county, and
in the counties of New York, Kings, Queens, Richmond and  Bronx  to  the
commissioner of finance of the city of New York for credit to the gener-
al  fund  of  such  city,  the balance of the moneys received during the
preceding month upon account of taxes paid  to  him  or  her  as  herein
prescribed,  after deducting the necessary expenses of his or her office
as provided in section two hundred sixty-two  of  this  article,  except
taxes  paid  upon  mortgages  which  under the provisions of section two
hundred sixty of this article are first to be apportioned by the commis-
sioner, which taxes and money shall be paid over by the commissioner  of
finance  of the city of New York as provided by the determination of the
commissioner. In each county not within the city of New York, the  whole
of  the  net  amount  of such balance, after the deduction by the county
treasurer of the necessary expenses of his or  her  office  provided  in
section  two  hundred sixty-two of this article, shall be held by him or
her and shall be allocated to the tax districts of the county  according
to the location of the real property covered by the respective mortgages
upon  which  the  tax  was  collected. [The recording officer and county

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03852-01-1
              

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