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Assembly Bill A2545

2013-2014 Legislative Session

Authorizes county legislative body to adopt local law providing industrial development agency is exempt from paying any filing, recording or indexing fee

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2013-A2545 (ACTIVE) - Details

Law Section:
General Municipal Law
Laws Affected:
Amd ยง874, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4042
2011-2012: A2731

2013-A2545 (ACTIVE) - Summary

Exempts industrial development agencies from the payment of any filing or recording fees to a county clerk for the filing, recording or indexing of any instrument required by law; also provides that the local legislative body of a county is authorized to adopt a local law providing that an industrial development agency shall not be required to pay any filing, recording or indexing fees.

2013-A2545 (ACTIVE) - Bill Text download pdf 

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

                                  2545

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2013
                               ___________

Introduced  by  M.  of A. CROUCH, FINCH -- read once and referred to the
  Committee on Local Governments

AN ACT to amend the general municipal law,  in  relation  to  industrial
  development agency; exemption from recording fees

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 874 of the general municipal  law,
as  added  by  chapter  1030  of the laws of 1969, is amended to read as
follows:
  (1)  It is hereby determined that the creation of the agency  and  the
carrying  out of its corporate purposes is in all respects for the bene-
fit of the people of the state of New York and is a public purpose,  and
the  agency  shall  be regarded as performing a governmental function in
the exercise of the powers conferred upon it by this title and shall  be
required  to  pay  no  taxes  or  assessments  upon  any of the property
acquired by it or under its jurisdiction or control  or  supervision  or
upon  its  activities.    IN ADDITION, THE LOCAL LEGISLATIVE BODY OF ANY
COUNTY IS HEREBY AUTHORIZED AND  EMPOWERED  TO  ADOPT  A  LOCAL  LAW  TO
PROVIDE THAT THE AGENCY SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR
FILING,  RECORDING  OR  INDEXING  ANY  INSTRUMENT  REQUIRED BY LAW TO BE
FILED, RECORDED OR INDEXED. WHERE SUCH LOCAL LAW HAS BEEN  ADOPTED,  THE
AGENCY  SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR FILING, RECORD-
ING OR INDEXING OF ANY INSTRUMENT WHEN SUCH FILING, RECORDING OR  INDEX-
ING IS REQUIRED BY LAW.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06372-01-3

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