assembly Bill A7465

2013-2014 Legislative Session

Relates to authorizing the county of Tompkins to impose a county recording tax on obligation secured by a mortgage on real property

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to ways and means
May 21, 2013 referred to ways and means

A7465 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Add ยง253-y, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10127
2011-2012: A4697

A7465 (ACTIVE) - Summary

Authorizes the county of Tompkins to impose a county recording tax on obligation secured by a mortgage on real property.

A7465 (ACTIVE) - Bill Text download pdf

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

                                  7465

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 21, 2013
                               ___________

Introduced by M. of A. LIFTON -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend the tax law, in relation to authorizing the county of
  Tompkins to impose a county recording tax on obligation secured  by  a
  mortgage  on  real  property;  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  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 TOMPKINS. 1.  TOMPKINS
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
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