Assembly Bill A8274

2013-2014 Legislative Session

Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of prior residence destroyed in hurricane Sandy

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2013-A8274 (ACTIVE) - Details

See Senate Version of this Bill:
S5970
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง252, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A7499, S3731
2017-2018: A3585, S3310
2019-2020: S1756
2021-2022: S4919
2023-2024: S4215

2013-A8274 (ACTIVE) - Summary

Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of their prior residence destroyed in hurricane Sandy.

2013-A8274 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8274

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            November 20, 2013
                               ___________

Introduced by M. of A. CUSICK, BORELLI, MALLIOTAKIS, TITONE -- read once
  and referred to the Committee on Ways and Means

AN  ACT  to amend the tax law, in relation to granting an exemption from
  the tax on  mortgages  for  residential  real  property  purchased  by
  persons receiving federal and/or state buyouts of their residence as a
  result  of  damage  caused  by hurricane Sandy in October of 2012; 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  opening  paragraph  of section 252 of the tax law is
designated subdivision 1 and a new subdivision 2 is  added  to  read  as
follows:
  2.  (A)  NOTWITHSTANDING  THE  PROVISIONS  OF  SUBDIVISION ONE OF THIS
SECTION, THE GOVERNING BODY OF ANY MUNICIPALITY ACTING THROUGH ITS LOCAL
LEGISLATIVE BODY OR OTHER GOVERNING AGENCY,  IS  HEREBY  AUTHORIZED  AND
EMPOWERED TO ADOPT AND AMEND LOCAL LAWS OR ORDINANCES TO EXEMPT FROM THE
TAXES IMPOSED BY THIS ARTICLE THE MORTGAGE OF RESIDENTIAL REAL PROPERTY,
WHEN  SUCH  REAL PROPERTY IS PURCHASED AND IS TO BE OCCUPIED BY AN OWNER
OR OWNERS WHO HAVE RECEIVED, OR FOR WHOM A FINAL DETERMINATION HAS  BEEN
MADE  AND  WILL  RECEIVE,  FEDERALLY AND/OR STATE FUNDED BUYOUTS OF SUCH
OWNER OR OWNERS' PREVIOUS RESIDENTIAL REAL PROPERTY WHICH WAS DAMAGED OR
DESTROYED AS A RESULT OF HURRICANE SANDY DURING OCTOBER OF TWO  THOUSAND
TWELVE.
  (B)  ANY  PERSON  WHO AFTER OCTOBER TWENTY-SECOND, TWO THOUSAND TWELVE
AND BEFORE THE EFFECTIVE DATE OF THIS SUBDIVISION, WHO  WOULD  OTHERWISE
QUALIFY  UNDER  PARAGRAPH  (A) OF THIS SUBDIVISION, AND WHO HAS PAID ANY
TAXES IMPOSED BY THIS ARTICLE, SHALL BE ENTITLED TO RECEIVE A REIMBURSE-
MENT OF ALL SUCH TAXES PAID FROM THE COUNTY CLERK OR COUNTY TREASURER OF
THE RESPECTIVE COUNTY WHERE SUCH TAXES WERE PAID IN THE SAME  MANNER  AS
PROVIDED IN SECTION TWO HUNDRED FIFTY-SEVEN-A OF THIS ARTICLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11891-02-3

              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.