senate Bill S4661

Relates to the mortgage recording tax in the county of Tompkins

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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

  • 17 / Apr / 2013
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 30 / May / 2013
    • 1ST REPORT CAL.880
  • 03 / Jun / 2013
    • 2ND REPORT CAL.
  • 04 / Jun / 2013
    • ADVANCED TO THIRD READING
  • 21 / Jun / 2013
    • SUBSTITUTED BY A6682

Summary

Relates to the mortgage recording tax in the county of Tompkins.

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Bill Details

See Assembly Version of this Bill:
A6682
Versions:
S4661
Legislative Cycle:
2013-2014
Law Section:
Tax Law
Laws Affected:
Amd ยง261, Tax L

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:S4661

TITLE OF BILL: An act to amend the tax law, in relation to the
mortgage recording tax in the county of Tompkins

PURPOSE: To authorize the dedication of proceeds from the Tompkins
County Mortgage Recording Tax (MRT) "additional tax" to be collected
by the county treasurer for mass transportation purposes.

SUMMARY OF PROVISIONS: The bill adds section j-1 to tax law section
261 (1) to authorize the dedication of proceeds from the MRT
"additional tax" for mass transportation purposes.

EXISTING LAW: Section 261 (1), section 253 (2) (a) of Tax Law

JUSTIFICATION: The Tompkins County Legislature passed a resolution
requesting that the MRT "additional tax" proceeds be dedicated for
mass transit, in state law. The county already has authority to raise
the " additional tax" under section 253 (2) (a) of Tax Law, for an
additional $.25 per $100 of mortgage value.

LEGISLATIVE HISTORY: New legislation.

FISCAL IMPLICATIONS: None to State.

EFFECTIVE DATE: Immediately

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

                                  4661

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 17, 2013
                               ___________

Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to the mortgage  recording  tax
  in the county of Tompkins

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

  Section 1. Subdivision 1 of section 261 of the tax law is  amended  by
adding a new paragraph (j-1) to read as follows:
  (J-1)  WITH RESPECT TO THE COUNTY OF TOMPKINS, TO THE COUNTY TREASURER
OF SUCH COUNTY FOR MASS TRANSPORTATION PURPOSES;
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10182-01-3

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