S T A T E O F N E W Y O R K
________________________________________________________________________
2824
2011-2012 Regular Sessions
I N A S S E M B L Y
January 20, 2011
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Introduced by M. of A. CALHOUN, REILICH -- Multi-Sponsored by -- M. of
A. CONTE, CROUCH, MOLINARO, SAYWARD, SPANO -- read once and referred
to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the mainte-
nance of bank codes in countywide electronic databases and making an
appropriation therefor
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 9 of section 953 of the real property tax law,
as amended by chapter 145 of the laws of 1990 and as further amended by
section 1 of part W of chapter 56 of the laws of 2010, is amended to
read as follows:
9. Every mortgage investing institution shall, no later than the twen-
ty-fifth day of each month, report to the county director of real prop-
erty tax services, or the commissioner of finance for property located
in the city of New York, on a form prescribed or approved by the state
board, the creation of a real property tax escrow account, or any change
of a tax billing address required by a transfer or termination of a real
property tax escrow account pursuant to subdivisions seven and eight of
this section, occurring during the prior month with respect to real
property located in such county or city, as the case may be. The county
director or the commissioner of finance of the city of New York shall
thereupon furnish a copy of such report to the person or persons having
custody and control of the appropriate assessment roll, tax roll or data
file, as defined in section fifteen hundred eighty-one of this chapter,
and such person or persons are hereby authorized and directed upon
receipt of such report to enter the appropriate tax billing address on
such assessment roll, tax roll or data file. FOR THE MAINTENANCE OF
BANK CODES IN COUNTYWIDE ELECTRONIC DATABASES, MORTGAGE INVESTING INSTI-
TUTIONS SHALL SEND ANY UPDATED TAX BILLING INFORMATION TO THE COUNTY
REAL PROPERTY TAX OFFICES IN AN ELECTRONIC STANDARDIZED FORMAT ON A
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02856-02-1
A. 2824 2
MONTHLY BASIS, AS DIRECTED BY THE OFFICE OF REAL PROPERTY SERVICES.
LOCAL ASSESSORS SHALL HAVE COMPUTERIZED ACCESS TO SUCH COUNTYWIDE ELEC-
TRONIC DATABASE.
S 2. The sum of five million dollars ($5,000,000), or so much thereof
as may be necessary, is hereby appropriated to the commissioner out of
any moneys in the state treasury in the general fund to the credit of
the state purposes account, not otherwise appropriated and made imme-
diately available to help supply assessors and counties with the equip-
ment and training necessary to create and maintain such databases. Such
moneys shall be payable on the audit and warrant of the comptroller on
vouchers certified or approved by the commissioner in the manner
prescribed by law.
S 3. This act shall take effect on the one hundred eightieth day after
it shall have become a law. Effective immediately, the addition, amend-
ment and/or repeal of any rule or regulation necessary for the implemen-
tation of this act on its effective date are authorized and directed to
be made and completed on or before such effective date.