S T A T E   O F   N E W   Y O R K
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                                  2532

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2009
                               ___________

Introduced by M. of A. CALHOUN, ERRIGO, REILICH -- Multi-Sponsored by --
  M.  of  A.  BACALLES,  CHRISTENSEN,  CONTE,  CROUCH, GREENE, MOLINARO,
  SAYWARD, SPANO -- read once and referred  to  the  Committee  on  Real
  Property Taxation

AN  ACT  to  amend the real property tax law, in relation to the mainte-
  nance of bank codes in countywide electronic databases and  making  an
  appropriation therefor

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

  Section 1. Subdivision 9 of section 953 of the real property tax  law,
as  amended  by  chapter  145 of the laws of 1990, is amended to read as
follows:
  9. Every mortgage investing institution shall, no later than the twen-
ty-fifth day of each month, report to the county director of real  prop-
erty  tax  services, or the commissioner of finance for property located
in the city of New York, on a form prescribed or approved by  the  state
board, the creation of a real property tax escrow account, or any change
of a tax billing address required by a transfer or termination of a real
property  tax escrow account pursuant to subdivisions seven and eight of
this section, occurring during the prior  month  with  respect  to  real
property  located in such county or city, as the case may be. The county
director or the commissioner of finance of the city of  New  York  shall
thereupon  furnish a copy of such report to the person or persons having
custody and control of the appropriate assessment roll, tax roll or data
file, as defined in section fifteen hundred eighty-one of this  chapter,
and  such  person  or  persons  are  hereby authorized and directed upon
receipt of such report to enter the appropriate tax billing  address  on
such  assessment  roll,  tax  roll or data file.  FOR THE MAINTENANCE OF
BANK CODES IN COUNTYWIDE ELECTRONIC DATABASES, MORTGAGE INVESTING INSTI-
TUTIONS SHALL SEND ANY UPDATED TAX BILLING  INFORMATION  TO  THE  COUNTY
REAL  PROPERTY  TAX  OFFICES  IN  AN ELECTRONIC STANDARDIZED FORMAT ON A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05718-01-9
              

A. 2532                             2

MONTHLY BASIS, AS DIRECTED BY THE  OFFICE  OF  REAL  PROPERTY  SERVICES.
LOCAL  ASSESSORS SHALL HAVE COMPUTERIZED ACCESS TO SUCH COUNTYWIDE ELEC-
TRONIC DATABASE.
  S  2. The sum of five million dollars ($5,000,000), or so much thereof
as may be necessary, is hereby appropriated to the office of real  prop-
erty tax services out of any moneys in the state treasury in the general
fund  to  the credit of the state purposes account, not otherwise appro-
priated and made immediately available  to  help  supply  assessors  and
counties  with  the equipment and training necessary to create and main-
tain such databases. Such moneys shall  be  payable  on  the  audit  and
warrant  of  the  comptroller  on  vouchers certified or approved by the
office of real property services in the manner prescribed by law.
  S 3. This act shall take effect on the one hundred eightieth day after
it shall have become a law. Effective immediately, the addition,  amend-
ment and/or repeal of any rule or regulation necessary for the implemen-
tation  of this act on its effective date are authorized and directed to
be made and completed on or before such effective date.