senate Bill S4437

Extends the period during which the county of Genesee is authorized to impose a county recording tax on certain mortgage obligation

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Bill Status


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

  • 01 / Apr / 2013
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 30 / May / 2013
    • 1ST REPORT CAL.861
  • 03 / Jun / 2013
    • 2ND REPORT CAL.
  • 04 / Jun / 2013
    • ADVANCED TO THIRD READING
  • 21 / Jun / 2013
    • SUBSTITUTED BY A6732

Summary

Extends the period during which the county of Genesee is authorized to impose a county recording tax on certain mortgage obligations.

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Bill Details

See Assembly Version of this Bill:
A6732
Versions:
S4437
Legislative Cycle:
2013-2014
Law Section:
Taxation
Laws Affected:
Amd ยง2, Chap 579 of 2004

Votes

7
0
7
Aye
0
Nay
1
aye with reservations
0
absent
1
excused
0
abstained
show Investigations and Government Operations committee vote details

Sponsor Memo

BILL NUMBER:S4437

TITLE OF BILL: An act to amend chapter 579 of the laws of 2004,
amending the tax law relating to authorizing the county of Genesee to
impose a county recording tax on certain mortgage obligation, in
relation to extending the provisions of such chapter

PURPOSE AND JUSTIFICATION:

The bill would extend the authority of Genesee County, acting through
its local legislative body, to adopt a local law imposing a mortgage
recording tax of 25 cents for each $100 of real property secured by a
mortgage.

The Genesee County Legislature has passed a resolution requesting
extension of its authority to charge a county mortgage recording tax.
The tax is collected by the County the same time as the State mortgage
recording taxes are. All revenue from the County Tax, after deducting
expenses of mortgage recording offices, goes to the general fund of
Genesee County for use as the County legislature approves.

SUMMARY OF SPECIFIC PROVISIONS:

Extends the authority of Genesee County to impose an additional county
recording tax on certain mortgage obligations until November 1, 2015.

PRIOR LEGISLATIVE HISTORY:

2009 - S.3175/A.6883 -- Chapter
117
2011 - S.4164/A.6576 -- Chapter
394

FISCAL IMPLICATIONS:

In 2008, Genesee County received in excess of $297,000 in revenue from
this additional mortgage tax.

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
________________________________________________________________________

                                  4437

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              April 1, 2013
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government Operations

AN  ACT  to  amend chapter 579 of the laws of 2004, amending the tax law
  relating to authorizing the county  of  Genesee  to  impose  a  county
  recording tax on certain mortgage obligation, in relation to extending
  the provisions of such chapter

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

  Section 1. Section 2 of chapter 579 of the laws of 2004, amending  the
tax law relating to authorizing the county of Genesee to impose a county
recording  tax on certain mortgage obligation, as amended by chapter 394
of the laws of 2011, 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 on November 1, [2013] 2015, when
upon such date the provisions of this act shall be deemed repealed.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10059-01-3

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