senate Bill S3174

2011-2012 Legislative Session

Relates to authorizing the county of Tompkins to impose a county recording tax on obligation secured by a mortgage on real property

download bill text pdf

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Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Feb 10, 2011 referred to investigations and government operations

S3174 - Details

See Assembly Version of this Bill:
A4697
Law Section:
Tax Law
Laws Affected:
Add §253-y, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S7652A, A10127A

S3174 - Summary

Relates to authorizing the county of Tompkins to impose a county recording tax on obligation secured by a mortgage on real property.

S3174 - Sponsor Memo

S3174 - Bill Text download pdf

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

                                  3174

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 10, 2011
                               ___________

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 authorizing  the  county  of
  Tompkins  to  impose a county recording tax on obligation secured by a
  mortgage on real property;  and  providing  for  the  repeal  of  such
  provisions upon expiration thereof

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

  Section 1. The tax law is amended by adding a  new  section  253-y  to
read as follows:
  S  253-Y. RECORDING TAX IMPOSED BY THE COUNTY OF TOMPKINS. 1. TOMPKINS
COUNTY, ACTING THROUGH ITS LOCAL LEGISLATIVE BODY, IS HEREBY  AUTHORIZED
AND  EMPOWERED  TO  ADOPT AND AMEND LOCAL LAWS IMPOSING IN SUCH COUNTY A
TAX OF TWENTY-FIVE CENTS FOR EACH ONE HUNDRED DOLLARS AND EACH REMAINING
MAJOR FRACTION THEREOF OF PRINCIPAL DEBT OR OBLIGATION WHICH IS OR UNDER
ANY CONTINGENCY MAY BE SECURED AT THE DATE OF EXECUTION THEREOF,  OR  AT
ANY TIME THEREAFTER, BY A MORTGAGE ON REAL PROPERTY SITUATED WITHIN SUCH
COUNTY  AND  RECORDED  ON  OR  AFTER  THE DATE UPON WHICH SUCH TAX TAKES
EFFECT AND A TAX OF TWENTY-FIVE CENTS ON SUCH MORTGAGE IF THE  PRINCIPAL
DEBT OR OBLIGATION WHICH IS OR BY ANY CONTINGENCY MAY BE SECURED BY SUCH
MORTGAGE IS LESS THAN ONE HUNDRED DOLLARS.
  2.  THE  TAXES  IMPOSED  UNDER  THE AUTHORITY OF THIS SECTION SHALL BE
ADMINISTERED AND COLLECTED IN THE SAME MANNER AS THE TAXES IMPOSED UNDER
SUBDIVISION ONE OF SECTION TWO HUNDRED FIFTY-THREE AND PARAGRAPH (B)  OF
SUBDIVISION  ONE  OF  SECTION  TWO  HUNDRED  FIFTY-FIVE OF THIS ARTICLE.
EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, ALL THE PROVISIONS OF THIS
ARTICLE RELATING TO OR APPLICABLE TO THE ADMINISTRATION  AND  COLLECTION
OF  THE  TAXES  IMPOSED  BY  SUCH  SUBDIVISIONS SHALL APPLY TO THE TAXES
IMPOSED UNDER THE AUTHORITY OF THIS SECTION WITH SUCH  MODIFICATIONS  AS
MAY  BE  NECESSARY TO ADAPT SUCH LANGUAGE TO THE TAX SO AUTHORIZED. SUCH
PROVISIONS SHALL APPLY WITH THE  SAME  FORCE  AND  EFFECT  AS  IF  THOSE
PROVISIONS  HAD  BEEN  SET  FORTH  IN FULL IN THIS SECTION EXCEPT TO THE
EXTENT THAT ANY PROVISION IS EITHER INCONSISTENT  WITH  A  PROVISION  OF

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