senate Bill S5348

2011-2012 Legislative Session

Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


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

do you support this bill?

Actions

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

S5348 - Bill Details

See Assembly Version of this Bill:
A445
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add ยง253-y, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S7983, A11327

S5348 - Bill Texts

view summary

Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt.

view sponsor memo
BILL NUMBER:S5348

TITLE OF BILL:
An act
to amend the tax law, in relation to authorizing the county of Madison
to impose an additional mortgage recording tax and providing for the
repeal of such provisions upon the expiration thereof

PURPOSE:
This bill authorizes Madison County to impose an additional
mortgage recording tax of twenty-five cents per one hundred dollars
of debt.

SUMMARY OF PROVISIONS:
Section 1 authorizes the imposition of a
twenty-five cent tax for each one hundred dollars by a mortgage on
real property situated within Madison County and describes the method
of administration and collection of the tax.

Section 2 sets forth the effective date.

JUSTIFICATION:
This bill was introduced at the request of the Madison
County Board of Supervisors, who by resolution adopted on April
13,2010 has requested that the New York State Legislature authorize
Madison County to impose an additional mortgage recording tax in
Madison, the proceeds of which will be disbursed to the County to
apply to Emergency Communications System Upgrade Project debt payments.

LEGISLATIVE HISTORY:
A.11327/S.7983 of 2010.

FISCAL IMPLICATIONS:
None to the State.

EFFECTIVE DATE:
This act .shall take effect on the sixtieth day after
it shall have become a law and shall expire when the debt service
payments to fund federally mandated improvements to the emergency
communications system upgrade project shall terminate.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5348

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              May 10, 2011
                               ___________

Introduced  by  Sen. VALESKY -- 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
  Madison  to  impose an additional mortgage recording tax and providing
  for the repeal of such provisions upon the 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 MADISON. 1.    MADISON
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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03570-01-1

S. 5348                             2

PROVISIONS HAD BEEN SET FORTH IN FULL IN  THIS  SECTION  EXCEPT  TO  THE
EXTENT  THAT  ANY  PROVISION  IS EITHER INCONSISTENT WITH A PROVISION OF
THIS SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY THIS SECTION.  FOR
PURPOSES  OF  THIS  SECTION, ANY REFERENCE IN THIS ARTICLE TO THE TAX OR
TAXES IMPOSED BY THIS ARTICLE SHALL BE DEEMED TO REFER TO A TAX  IMPOSED
PURSUANT  TO  THIS SECTION, AND ANY REFERENCE TO THE PHRASE "WITHIN THIS
STATE" SHALL BE READ AS "WITHIN  MADISON  COUNTY",  UNLESS  A  DIFFERENT
MEANING IS CLEARLY REQUIRED.
  3.  WHERE THE REAL PROPERTY COVERED BY THE MORTGAGE SUBJECT TO THE TAX
IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION IS  SITUATED  IN  THIS
STATE BUT WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE AMOUNT OF
SUCH  TAX DUE AND PAYABLE TO SUCH COUNTY SHALL BE DETERMINED IN A MANNER
SIMILAR TO THAT  PRESCRIBED  IN  THE  FIRST  UNDESIGNATED  PARAGRAPH  OF
SECTION  TWO  HUNDRED SIXTY OF THIS ARTICLE WHICH CONCERNS REAL PROPERTY
SITUATED IN TWO OR MORE COUNTIES. WHERE SUCH PROPERTY IS  SITUATED  BOTH
WITHIN  SUCH COUNTY AND WITHOUT THE STATE, THE AMOUNT DUE AND PAYABLE TO
SUCH COUNTY SHALL BE DETERMINED IN THE MANNER PRESCRIBED IN  THE  SECOND
UNDESIGNATED  PARAGRAPH OF SUCH SECTION TWO HUNDRED SIXTY WHICH CONCERNS
PROPERTY SITUATED WITHIN AND WITHOUT THE STATE. WHERE REAL  PROPERTY  IS
SITUATED  WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE RECORDING
OFFICER OF THE JURISDICTION IN WHICH  THE  MORTGAGE  IS  FIRST  RECORDED
SHALL BE REQUIRED TO COLLECT THE TAXES IMPOSED PURSUANT TO THIS SECTION.
  4. A TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION SHALL BE IN
ADDITION TO THE TAXES IMPOSED BY SECTION TWO HUNDRED FIFTY-THREE OF THIS
ARTICLE.
  5.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY, THE
BALANCE OF ALL MONEYS PAID TO THE RECORDING OFFICER  OF  THE  COUNTY  OF
MADISON  DURING  EACH  MONTH UPON ACCOUNT OF THE TAX IMPOSED PURSUANT TO
THE AUTHORITY OF THIS SECTION, 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
THIS SECTION OR SECTION TWO HUNDRED SIXTY OF THIS ARTICLE ARE  FIRST  TO
BE  APPORTIONED  BY THE COMMISSIONER, SHALL BE PAID OVER BY SUCH OFFICER
ON OR BEFORE THE TENTH DAY OF EACH SUCCEEDING MONTH TO THE TREASURER  OF
MADISON  COUNTY AND, AFTER THE DEDUCTION BY SUCH TREASURER OF THE NECES-
SARY EXPENSES OF HIS OR HER  OFFICE  PROVIDED  IN  SECTION  TWO  HUNDRED
SIXTY-TWO  OF THIS ARTICLE SHALL BE DEPOSITED IN THE GENERAL FUND OF THE
COUNTY OF MADISON.  NOTWITHSTANDING  THE  PROVISIONS  OF  THE  PRECEDING
SENTENCE, THE TAX SO IMPOSED AND PAID UPON MORTGAGES COVERING REAL PROP-
ERTY  SITUATED  IN  TWO  OR MORE COUNTIES, WHICH UNDER THE PROVISIONS OF
THIS SECTION OR SECTION TWO HUNDRED SIXTY OF THIS ARTICLE ARE  FIRST  TO
BE  APPORTIONED BY THE COMMISSIONER, SHALL BE PAID OVER BY THE RECORDING
OFFICER RECEIVING THE SAME AS  PROVIDED  BY  THE  DETERMINATION  OF  THE
COMMISSIONER.
  6.  ANY  LOCAL  LAW  IMPOSING  A TAX PURSUANT TO THE AUTHORITY OF THIS
SECTION OR REPEALING OR SUSPENDING SUCH A TAX SHALL TAKE EFFECT ONLY  ON
THE  FIRST DAY OF A CALENDAR MONTH. SUCH A LOCAL LAW SHALL NOT BE EFFEC-
TIVE UNLESS A CERTIFIED COPY THEREOF IS MAILED BY REGISTERED  OR  CERTI-
FIED  MAIL TO THE COMMISSIONER AT THE COMMISSIONER'S OFFICE IN ALBANY AT
LEAST THIRTY DAYS PRIOR TO THE DATE THE LOCAL LAW SHALL TAKE EFFECT.
  7. CERTIFIED COPIES OF ANY LOCAL LAW DESCRIBED IN THIS  SECTION  SHALL
ALSO BE FILED WITH THE COUNTY CLERK OF THE COUNTY OF MADISON, THE SECRE-
TARY  OF STATE AND THE STATE COMPTROLLER WITHIN FIVE DAYS AFTER THE DATE
IT IS DULY ENACTED.
  S 2. This act shall take effect on the sixtieth  day  after  it  shall
have  become  a  law  and  shall expire and be deemed repealed when debt

S. 5348                             3

service payments to fund federally mandated improvements of the emergen-
cy communications system upgrade project implemented by board resolution
207-09 shall terminate. The board of supervisors of the county of  Madi-
son shall notify the legislative bill drafting commission of the date of
the  termination of such debt service payments in order that the commis-
sion may maintain an accurate and timely  effective  data  base  of  the
official  text  of  the  laws of the state of New York in furtherance of
effecting the provisions of  section  44  of  the  legislative  law  and
section 70-b of the public officers law.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.