Assembly Bill A4036

2009-2010 Legislative Session

Establishes an exemption from the mortgage recording tax for a principal residence where the taxpayer is below the median household income where the residence is located

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-A4036 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง252-a, Tax L

2009-A4036 (ACTIVE) - Summary

Establishes an exemption from the mortgage recording tax for a principal residence where the taxpayer is below the median household income where the residence is located.

2009-A4036 (ACTIVE) - Bill Text download pdf 

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

                                  4036

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2009
                               ___________

Introduced  by  M. of A. THIELE, WALKER, GIGLIO -- Multi-Sponsored by --
  M. of A. SPANO -- read once and referred to the Committee on Ways  and
  Means

AN  ACT  to  amend the tax law, in relation to establishing an exemption
  from the mortgage recording tax for a principal  residence  where  the
  taxpayer  is  below the median household income where the residence is
  located

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

  Section  1.  Section  252-a  of the tax law is amended by adding a new
subdivision 3 to read as follows:
  3. MORTGAGES OF REAL PROPERTY WHERE SAID PROPERTY IS A PRINCIPAL RESI-
DENCE LOCATED WITHIN THE STATE OF NEW YORK SHALL BE EXEMPT FROM ANY  TAX
OR  FEE  IMPOSED  PURSUANT  TO  THIS ARTICLE WHERE THE MORTGAGOR HAS NOT
OWNED A PRINCIPAL RESIDENCE WITHIN  THE  PRECEDING  FIVE  YEARS  OF  THE
PURCHASE OF THE RESIDENCE FOR WHICH THE EXEMPTION IS CLAIMED.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03943-01-9

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