senate Bill S6176

Signed by Governor

Extends the effectiveness of chapter 405 of the laws of 2005 for two years relating to authorization for the county of Albany to impose a mortgage recording tax

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
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actions

  • 10 / Jan / 2012
    • REFERRED TO LOCAL GOVERNMENT
  • 13 / Jun / 2012
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 13 / Jun / 2012
    • ORDERED TO THIRD READING CAL.1209
  • 13 / Jun / 2012
    • PASSED SENATE
  • 13 / Jun / 2012
    • DELIVERED TO ASSEMBLY
  • 13 / Jun / 2012
    • REFERRED TO WAYS AND MEANS
  • 19 / Jun / 2012
    • SUBSTITUTED FOR A8958
  • 19 / Jun / 2012
    • ORDERED TO THIRD READING CAL.488
  • 19 / Jun / 2012
    • HOME RULE REQUEST
  • 19 / Jun / 2012
    • PASSED ASSEMBLY
  • 19 / Jun / 2012
    • RETURNED TO SENATE
  • 20 / Jul / 2012
    • DELIVERED TO GOVERNOR
  • 01 / Aug / 2012
    • SIGNED CHAP.311

Summary

Extends the effectiveness of chapter 405 of the laws of 2005 for two years which chapter authorizes the county of Albany to impose a county mortgage recording tax.

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Bill Details

See Assembly Version of this Bill:
A8958
Versions:
S6176
Legislative Cycle:
2011-2012
Law Section:
Albany County
Laws Affected:
Amd ยง2, Chap 405 of 2005
Versions Introduced in 2009-2010 Legislative Cycle:
S6763, A9828

Sponsor Memo

BILL NUMBER:S6176

TITLE OF BILL:
An act
to amend chapter 405 of the laws of 2005 amending the tax law relating
to authorizing the county of Albany to impose a county recording tax on
obligations secured by a mortgage on real property, in relation to
extending the effectiveness thereof

PURPOSE:
Extends the effectiveness of chapter 291 of the laws of 2010 for two
years.

SUMMARY OF PROVISIONS:
Amends chapter 291 of 2010, extending the sunset from December 1, 2012
to December 1, 2014.

JUSTIFICATION:
Currently, the county of Albany's mortgage recording tax is slated to
sunset on December 1, 2012. In order for the county to continue
generating revenue, the sunset must be extended. By imposing a tax of
twenty-five cents for each one hundred dollars secured by a mortgage
in Albany County, this measure would help generate revenue for the
County and help to relieve the burdens placed on local taxpayers.

LEGISLATIVE HISTORY:
2010: Chapter 291
2008: Chapter 411
2006: Chapter 477
2005: Chapter 405

FISCAL IMPLICATIONS:
None to the State.

EFFECTIVE DATE:
Immediately.

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

    S. 6176                                                  A. 8958

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

                            January 10, 2012
                               ___________

IN SENATE -- Introduced by Sen. BRESLIN -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

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

AN ACT to amend chapter 405 of the laws of 2005  amending  the  tax  law
  relating  to  authorizing  the  county  of  Albany  to impose a county
  recording tax on obligations secured by a mortgage on  real  property,
  in relation to extending the effectiveness thereof

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

  Section 1. Section 2 of chapter 405 of the laws of 2005  amending  the
tax  law relating to authorizing the county of Albany to impose a county
recording tax on obligations secured by a mortgage on real property,  as
amended  by  chapter  291  of  the  laws  of 2010, is amended to read as
follows:
  S 2. This act shall take effect on the thirtieth day  after  it  shall
have  become  a law and shall expire and be deemed repealed on the first
of December, [2012] 2014.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13440-01-1

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