senate Bill S3479

Amended

Prevents referees from being held liable for interest or penalties on transfer taxes to be paid on deeds filed in their capacity as referee

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Sponsor

Bill Status


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

  • 04 / Feb / 2013
    • REFERRED TO JUDICIARY
  • 20 / Sep / 2013
    • AMEND (T) AND RECOMMIT TO JUDICIARY
  • 20 / Sep / 2013
    • PRINT NUMBER 3479A
  • 08 / Jan / 2014
    • REFERRED TO JUDICIARY
  • 06 / May / 2014
    • 1ST REPORT CAL.520
  • 07 / May / 2014
    • 2ND REPORT CAL.
  • 12 / May / 2014
    • ADVANCED TO THIRD READING
  • 11 / Jun / 2014
    • SUBSTITUTED BY A1582A

Summary

Prevents referees from being held liable for interest or penalties on transfer taxes to be paid on deeds filed in their capacity as referee pursuant to a judgment of foreclosure and sale.

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Bill Details

See Assembly Version of this Bill:
A1582
Versions:
S3479
S3479A
Legislative Cycle:
2013-2014
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd ยง8003, CPLR
Versions Introduced in 2011-2012 Legislative Cycle:
S6467A, A9220A

Sponsor Memo

BILL NUMBER:S3479

TITLE OF BILL: An act to amend the civil practice law and rules, in
relation to the liability of referees for interest and penalties in
connection with transfer taxes on deeds

PURPOSE: Prevents referees from being held liable for interest or
penalties on deeds filed in their capacity as referee.

SUMMARY OF PROVISIONS: Subdivision (c) of section 8003 of the civil
practice law and rules is relettered subdivision (d) and a new subdivi-
sion (c) is added. This new subdivision provides that a referee shall
not be liable for certain transfer taxes imposed upon a referee deliver-
ing a deed in a foreclosure sale.

JUSTIFICATION: By law, referees selling properties at foreclosure are
treated as grantors subject co the Real Property Transfer Tax ("RPTT").
Specifically, 19 RCNY S 2303 (d)(2) provides that the RPTT will apply to
deeds given by referees, receivers, sheriffs, etc., for realty sold
under liens not canceled, by the sale, and advertising expenses, taxes
and other costs paid by the purchaser, whether the purchaser is the
mortgagee, judgment creditor or other person.

There is no provision of law or regulation that exempts a referee,
acting as a grantor, from the penalty and interest provisions otherwise
imposed under the RPTT. However, as of January 1, 2012, referees will be
responsible for the payment of any penalties and interest that will be
imposed for late filing of the RPTT return. Therefore, this legislation
is necessary to prevent referees from being held liable for interest or
penalties on deeds filed in their capacity as referee/arbiter.

LEGISLATIVE HISTORY: S.6467A of 2012 - Referred to Judiciary Committee

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately.

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

                                  3479

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 4, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the civil practice law and rules,  in  relation  to  the
  liability  of  referees  for interest and penalties in connection with
  transfer taxes on deeds

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

  Section  1.  Subdivision (c) of section 8003 of the civil practice law
and rules is relettered subdivision (d) and a  new  subdivision  (c)  is
added to read as follows:
  (C)  REFEREE  NOT LIABLE FOR INTEREST OR PENALTY.  A REFEREE SHALL NOT
BE LIABLE FOR ANY INTEREST OR PENALTY IN CONNECTION WITH  ANY  STATE  OR
LOCAL  TRANSFER  TAXES IMPOSED UPON A DEED DELIVERED BY A REFEREE TRANS-
FERRING A PROPERTY PURSUANT TO A JUDGMENT OF FORECLOSURE AND SALE.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04799-01-3

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