|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to investigations and government operations|
|Feb 10, 2011||referred to investigations and government operations|
senate Bill S3174
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3174 - Details
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
BILL NUMBER:S3174 TITLE OF BILL: 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 PURPOSE: To authorize the Tompkins County Legislature to adopt and amend local laws imposing a twenty-five cent per each one hundred dollars mortgage recording tax on obligations secured by a mortgage on real property. SUMMARY OF PROVISIONS: The bill adds § 253-y to tax law to authorize the Tompkins County legislature to amend local laws to impose a twenty-five cent per each one hundred dollars mortgage recording tax on obligations secured by a mortgage on real property. The taxes are to be administered and collected in the same manner as the taxes imposed under subdivision one of § 253 and paragraph (b) of section § 255 of this article. Each enactment of a local law imposing a tax or repealing or suspending such a tax shall take effect only on the first day of a calendar month. EXISTING LAW:
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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