senate Bill S4873A

2013-2014 Legislative Session

Amends the tax law in relation to the timing of distribution of mortgage recording tax revenues by counties

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Archive: Last Bill Status - In Senate 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 (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jun 21, 2013 committed to rules
May 29, 2013 amended on third reading 4873a
May 23, 2013 advanced to third reading
May 22, 2013 2nd report cal.
May 21, 2013 1st report cal.669
Apr 29, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S4873 - Details

See Assembly Version of this Bill:
A7006A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §261, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1858, A2085
2009-2010: S6756, A9765

S4873 - Summary

Relates to the timing of distribution of mortgage recording tax revenues by counties.

S4873 - Sponsor Memo

S4873 - Bill Text download pdf

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

    S. 4873                                                  A. 7006

                       2013-2014 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             April 29, 2013
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to  be committed to the Committee on Investi-
  gations and Government Operations

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

AN  ACT  to amend the tax law, in relation to the timing of distribution
  of mortgage recording tax revenues by counties

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

  Section  1. Subdivision 3 of section 261 of the tax law, as amended by
chapter 287 of the laws of 2006, is amended to read as follows:
  3. On or before the tenth day of each month the recording  officer  of
each  county  shall pay over to the county treasurer of said county, and
in the counties of New York, Kings, Queens, Richmond and  Bronx  to  the
commissioner of finance of the city of New York for credit to the gener-
al  fund  of  such  city,  the balance of the moneys received during the
preceding month upon account of taxes paid  to  him  or  her  as  herein
prescribed,  after deducting the necessary expenses of his or her office
as provided in section two hundred sixty-two  of  this  article,  except
taxes  paid  upon  mortgages  which  under the provisions of section two
hundred sixty of this article are first to be apportioned by the commis-
sioner, which taxes and money shall be paid over by the commissioner  of
finance  of the city of New York as provided by the determination of the
commissioner. In each county not within the city of New York, the  whole
of  the  net  amount  of such balance, after the deduction by the county
treasurer of the necessary expenses of his or  her  office  provided  in
section  two  hundred sixty-two of this article, shall be held by him or
her and shall be allocated to the tax districts of the county  according
to the location of the real property covered by the respective mortgages
upon  which  the  tax  was  collected. [The recording officer and county

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10612-01-3

S4873A (ACTIVE) - Details

See Assembly Version of this Bill:
A7006A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §261, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1858, A2085
2009-2010: S6756, A9765

S4873A (ACTIVE) - Summary

Relates to the timing of distribution of mortgage recording tax revenues by counties.

S4873A (ACTIVE) - Sponsor Memo

S4873A (ACTIVE) - Bill Text download pdf

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

    S. 4873--A                                            A. 7006--A
    Cal. No. 669

                       2013-2014 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             April 29, 2013
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to  be committed to the Committee on Investi-
  gations and Government Operations  --  reported  favorably  from  said
  committee,  ordered  to  first  and  second report, ordered to a third
  reading, amended and ordered reprinted, retaining  its  place  in  the
  order of third reading

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Ways  and  Means  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the tax law, in relation to the timing  of  distribution
  of mortgage recording tax revenues by counties

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

  Section 1. Subdivision 3 of section 261 of the tax law, as amended  by
chapter 287 of the laws of 2006, is amended to read as follows:
  3.  On  or before the tenth day of each month the recording officer of
each county shall pay over to the county treasurer of said  county,  and
in  the  counties  of New York, Kings, Queens, Richmond and Bronx to the
commissioner of finance of the city of New York for credit to the gener-
al fund of such city, the balance of  the  moneys  received  during  the
preceding  month  upon  account  of  taxes  paid to him or her as herein
prescribed, after deducting the necessary expenses of his or her  office
as  provided  in  section  two hundred sixty-two of this article, except
taxes paid upon mortgages which under  the  provisions  of  section  two
hundred sixty of this article are first to be apportioned by the commis-
sioner,  which taxes and money shall be paid over by the commissioner of
finance of the city of New York as provided by the determination of  the
commissioner.  In each county not within the city of New York, the whole
of the net amount of such balance, after the  deduction  by  the  county

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

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