Senate Bill S6756

2009-2010 Legislative Session

Amends the tax law in relation to the timing of distribution of mortgage recording tax revenues by counties

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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-S6756 (ACTIVE) - Details

See Assembly Version of this Bill:
A9765
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §261, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S1858, A2085
2013-2014: S4873, A7006
2015-2016: S2098, A3023

2009-S6756 (ACTIVE) - Summary

Amends the tax law in relation to the timing of distribution of mortgage recording tax revenues by counties.

2009-S6756 (ACTIVE) - Sponsor Memo

2009-S6756 (ACTIVE) - Bill Text download pdf

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

                                  6756

                            I N  S E N A T E

                            February 3, 2010
                               ___________

Introduced  by  Sen. LAVALLE -- 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 timing  of  distribution
  of mortgage recording tax revenues by counties

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

  Section 1. Subdivision 3 of section 261 of the tax law, as amended  by
chapter 287 of the laws of 2006, is amended to read as follows:
  3.  On  or before the tenth day of each month the recording officer of
each county shall pay over to the county treasurer of said  county,  and
in  the  counties  of New York, Kings, Queens, Richmond and Bronx to the
commissioner of finance of the city of New York for credit to the gener-
al fund of such city, the balance of  the  moneys  received  during  the
preceding  month  upon  account  of  taxes  paid to him or her as herein
prescribed, after deducting the necessary expenses of his or her  office
as  provided  in  section  two hundred sixty-two of this article, except
taxes paid upon mortgages which under  the  provisions  of  section  two
hundred sixty of this article are first to be apportioned by the commis-
sioner,  which taxes and money shall be paid over by the commissioner of
finance of the city of New York as provided by the determination of  the
commissioner.  In each county not within the city of New York, the whole
of the net amount of such balance, after the  deduction  by  the  county
treasurer  of  the  necessary  expenses of his or her office provided in
section two hundred sixty-two of this article, shall be held by  him  or
her  and shall be allocated to the tax districts of the county according
to the location of the real property covered by the respective mortgages
upon which the tax was collected.  [The  recording  officer  and  county
treasurer  shall  prepare  a  joint  semi-annual report on or before May
fifteenth and on or before November fifteenth in each year  showing  the
amounts  to be credited to each tax district of the county of the moneys
collected under this article during the preceding periods of six  months
each  which ended respectively on March thirty-first and September thir-
tieth. Such report shall be made in duplicate  in  accordance  with  the

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

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