|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to investigations and government operations|
|Mar 10, 2011||referred to investigations and government operations|
senate Bill S3926
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3926 - Details
- Current Committee:
- Law Section:
- Tax Law
- Laws Affected:
- Add §253-y, amd §261, Tax L
- Versions Introduced in 2009-2010 Legislative Session:
S3926 - Summary
Authorizes the county of Chemung to impose an additional mortgage recording tax and authorizes such county to expend the existing mortgage recoding tax on county services.
S3926 - Sponsor Memo
BILL NUMBER:S3926 TITLE OF BILL: An act to amend the tax law, in relation to authorizing the county of Chemung to impose an additional mortgage recording tax and authorizing such county to expend the existing mortgage recording tax on necessary county services; and providing for the repeal of such provisions upon expiration thereof PURPOSE: To authorize the Chemung 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 Chemung 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.
S3926 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 3926 A. 6228 2011-2012 Regular Sessions S E N A T E - A S S E M B L Y March 10, 2011 ___________ IN SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print- ed, and when printed to be committed to the Committee on Investi- gations and Government Operations IN ASSEMBLY -- Introduced by M. of A. FRIEND -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to authorizing the county of Chemung to impose an additional mortgage recording tax and authorizing such county to expend the existing mortgage recording tax on necessary county services; 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 CHEMUNG. 1. CHEMUNG 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09318-01-1
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