| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| May 09, 2012 |
print number 6467a |
| May 09, 2012 |
amend (t) and recommit to judiciary |
| Feb 13, 2012 |
referred to judiciary |
Senate Bill S6467A
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
Actions
Bill Amendments
2011-S6467 - Details
- See Assembly Version of this Bill:
- A9220
- Current Committee:
- Senate Judiciary
- Law Section:
- Civil Practice Law and Rules
- Laws Affected:
- Amd §8003, CPLR
2011-S6467 - Sponsor Memo
BILL NUMBER:S6467
TITLE OF BILL: An act to amend the civil practice law and rules, in
relation to the liability of referees for interest and penalties on
deeds
PURPOSE OR GENERAL IDEA OF BILL:: Prevents referees/arbiters from being
held liable for interest or penalties on deeds filed in their capacity
as referee/arbiter.
SUMMARY OF SPECIFIC PROVISIONS:: Subdivision (c) of section 8003 of the
civil practice law and rules is re-lettered subdivision (d) and a new
subdivision (c) is added.
JUSTIFICATION:: By law, referees selling properties at foreclosure are
treated as grantors subject to the RPTT. Specifically, 19 RCNY § 23-02
(a) (2) provides that the RPTT will apply to deeds given by referees,
receivers, sheriffs, etc., for realty sold under lien not canceled by
the sale, and advertising expenses, taxes and other costs paid by the
purchaser, whether the purchaser is the mortgagee, judgment creditor "or
other person" (emphasis added)- there is no provision of law or regu-
lation that exempts a referee, acting as a grantor, from the penalty and
interest provisions otherwise imposed under the RPTT. However, as on
January 1, 2012, referees will be responsible for the payment of any
penalties and interest that will be imposed for late filing of the RPTT
return. Therefore, this legislation is necessary to prevent referees/
2011-S6467 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6467
I N S E N A T E
February 13, 2012
___________
Introduced by Sen. GOLDEN -- read twice and ordered printed, and when
printed to be committed to the Committee on Judiciary
AN ACT to amend the civil practice law and rules, in relation to the
liability of referees for interest and penalties on deeds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision (c) of section 8003 of the civil practice law
and rules is relettered subdivision (d) and a new subdivision (c) is
added to read as follows:
(C) REFEREE NOT LIABLE FOR INTEREST. A REFEREE SHALL NOT BE LIABLE FOR
ANY INTEREST OR PENALTY FOR A DEED CAUSED TO BE FILED IN THEIR CAPACITY
AS AN ARBITER/REFEREE SELLING A PROPERTY AT FORECLOSURE.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14192-01-2
2011-S6467A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9220
- Current Committee:
- Senate Judiciary
- Law Section:
- Civil Practice Law and Rules
- Laws Affected:
- Amd §8003, CPLR
2011-S6467A (ACTIVE) - Sponsor Memo
BILL NUMBER:S6467A
TITLE OF BILL:
An act to amend the civil practice law and rules, in relation to the
liability of referees for interest and penalties in connection with
transfer taxes on deeds
PURPOSE OR GENERAL IDEA OF BILL:
Prevents referees/arbiters from being held liable for interest or penal-
ties on deeds filed in their capacity as referee/arbiter.
SUMMARY OF SPECIFIC PROVISIONS:
Subdivision (c) of section 8003 of the civil practice law and rules is
re-lettered subdivision (d) and a new subdivision (c) is added.
JUSTIFICATION:
By law, referees selling properties at foreclosure are treated as gran-
tors subject to the RPTT. Specifically, 19 RCNY § 23-02 (a) (2) provides
that the RPTT will apply to deeds given by referees, receivers, sher-
iffs, etc., for realty sold under lien not canceled by the sale, and
advertising expenses, taxes and other costs paid by the purchaser,
whether the purchaser is the mortgagee, judgment creditor "or other
person" (emphasis added)- there is no provision of law or regulation
that exempts a referee, acting as a grantor, from the penalty and inter-
est provisions otherwise imposed under the RPTT. However, as on January
1, 2012, referees will be responsible for the payment of any penalties
2011-S6467A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6467--A
I N S E N A T E
February 13, 2012
___________
Introduced by Sen. GOLDEN -- read twice and ordered printed, and when
printed to be committed to the Committee on Judiciary -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the civil practice law and rules, in relation to the
liability of referees for interest and penalties in connection with
transfer taxes on deeds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision (c) of section 8003 of the civil practice law
and rules is relettered subdivision (d) and a new subdivision (c) is
added to read as follows:
(C) REFEREE NOT LIABLE FOR INTEREST OR PENALTY. A REFEREE SHALL NOT
BE LIABLE FOR ANY INTEREST OR PENALTY IN CONNECTION WITH ANY STATE OR
LOCAL TRANSFER TAXES IMPOSED UPON A DEED DELIVERED BY A REFEREE TRANS-
FERRING A PROPERTY PURSUANT TO A JUDGMENT OF FORECLOSURE AND SALE.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14192-05-2
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