senate Bill S4554
(R, C, IP) 9th Senate District
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Authorizes counties in the Hurricane Sandy federal disaster area to grant exemptions to filing fees related to federal Small Business Administration Disaster Loans; provides for reimbursement of such fees that have been paid.
TITLE OF BILL: An act to authorize counties included in the Hurricane
Sandy federal disaster area to grant exemptions for certain filing
fees and provide for reimbursement of such fees
To authorize counties in the Hurricane Sandy federal disaster area to
grant reimbursements and exemptions for filling fees related to
federal Small Business Administration Loans.
SUMMARY OF PROVISIONS:
Section 1 dedicates this legislation to be known as the "Hurricane
Sandy filing fee exemption and reimbursement act."
Section 2 defines which counties are eligible under this act.
Section 3 provided for a local opt-in provision by the county
governing body to participate in this act.
Section 4 establishes the period of time in which exemption from the
filing fees associated with the US Small Business Administration
Disaster Loan as defined by 15 USCS § 636(b)(l) is available.
Section 5 provides for a reimbursement of fees paid to the county
clerk by individuals in receipt of the US Small Business
Administration Disaster Loan.
Section 6 provides that the county clerk shall notify the Commissioner
of Education of any amount which have been collected pursuant to CPLR
§ 8021. Upon such notice, the Commissioner shall remit those amounts
to the respective county within fifteen (15) days of notice. Upon
receipt of such payment the county clerk or county treasurer shall
reimburse the full amount of fees paid to an eligible person or entity
pursuant to this act.
As a result of the destruction to real property associated with
Hurricane Sandy many property owners applied and were granted Small
Business Administration (SBA) loans for the purpose of rebuilding and
rehabilitating their real property. These SBA loans are required to be
reported in the same manner as a mortgage with the respective county
clerks in which the real property is located. As such, the fees
associated with the filing process are imposed on the real property
owner. In an effort to provide some addition& relief to the real
property owner suffering from the devastation incurred from Hurricane
sandy, this legislation would exempt the real property owner from the
state portion of the required filing fees, as well as authorize the
county clerk or county treasurer to issue refunds to those real
property owners that have already paid the such filing fees.
This is a New Bill
Minimal to the State
This act shall take effect immediately
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