Assembly Bill A4042

2009-2010 Legislative Session

Authorizes county legislative body to adopt local law providing industrial development agency is exempt from paying any filing, recording or indexing fee

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

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

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2009-A4042 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Amd ยง874, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2731
2013-2014: A2545

2009-A4042 (ACTIVE) - Summary

Exempts industrial development agencies from the payment of any filing or recording fees to a county clerk for the filing, recording or indexing of any instrument required by law; also provides that the local legislative body of a county is authorized to adopt a local law providing that an industrial development agency shall not be required to pay any filing, recording or indexing fees.

2009-A4042 (ACTIVE) - Bill Text download pdf 

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

                                  4042

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2009
                               ___________

Introduced by M. of A. CROUCH, BURLING -- Multi-Sponsored by -- M. of A.
  FINCH -- read once and referred to the Committee on Local Governments

AN  ACT  to  amend  the general municipal law, in relation to industrial
  development agency; exemption from recording fees

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

  Section  1. Subdivision 1 of section 874 of the general municipal law,
as added by chapter 1030 of the laws of 1969,  is  amended  to  read  as
follows:
  (1)    It is hereby determined that the creation of the agency and the
carrying out of its corporate purposes is in all respects for the  bene-
fit  of the people of the state of New York and is a public purpose, and
the agency shall be regarded as performing a  governmental  function  in
the  exercise of the powers conferred upon it by this title and shall be
required to pay no  taxes  or  assessments  upon  any  of  the  property
acquired  by  it  or under its jurisdiction or control or supervision or
upon its activities.  IN ADDITION, THE LOCAL  LEGISLATIVE  BODY  OF  ANY
COUNTY  IS  HEREBY  AUTHORIZED  AND  EMPOWERED  TO  ADOPT A LOCAL LAW TO
PROVIDE THAT THE AGENCY SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR
FILING, RECORDING OR INDEXING ANY  INSTRUMENT  REQUIRED  BY  LAW  TO  BE
FILED,  RECORDED  OR INDEXED. WHERE SUCH LOCAL LAW HAS BEEN ADOPTED, THE
AGENCY SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR FILING,  RECORD-
ING  OR INDEXING OF ANY INSTRUMENT WHEN SUCH FILING, RECORDING OR INDEX-
ING IS REQUIRED BY LAW.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06986-01-9

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