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Assembly Bill A8375

2013-2014 Legislative Session

Repeals the additional tax imposed on the conveyance of residential real property where the consideration is $1,000,000 or more

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Archive: Last Bill Status - In Assembly Committee

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2013-A8375 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Rpld ยง1402-a, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6911
2011-2012: A7977

2013-A8375 (ACTIVE) - Summary

Repeals the additional tax imposed on the conveyance of residential real property where the consideration is $1,000,000 or more; provides that this additional tax presently is set at a rate of 1% of the consideration to be paid.

2013-A8375 (ACTIVE) - Bill Text download pdf 

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

                                  8375

                          I N  A S S E M B L Y

                             January 9, 2014
                               ___________

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

AN  ACT  to  repeal  section  1402-a of the tax law, relating to the tax
  imposed on the conveyance of certain residential real property

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

  Section 1. Section 1402-a of the tax law is REPEALED.
  S  2.  This act shall take effect on the first of July next succeeding
the date on which it shall have become a law  and  shall  apply  to  all
conveyances occurring on or after such date.









 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
A                                                          LBD11176-01-3

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