senate Bill S3926

2011-2012 Legislative Session

Authorizes Chemung county to impose an additional mortgage recording tax and authorizes such county to expend existing mortgage recording tax on county services

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Mar 10, 2011 referred to investigations and government operations

S3926 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §253-y, amd §261, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S7467

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

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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