senate Bill S5022

Signed By Governor
2013-2014 Legislative Session

Authorizes the city of Middletown to enter into a contract to use delinquent tax liens as collateral for a loan

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

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

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view actions (15)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 13, 2013 signed chap.510
Nov 01, 2013 delivered to governor
Jun 18, 2013 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.336
substituted for a6731
Jun 05, 2013 referred to ways and means
delivered to assembly
passed senate
home rule request
Jun 04, 2013 advanced to third reading
Jun 03, 2013 2nd report cal.
May 30, 2013 1st report cal.841
May 06, 2013 referred to investigations and government operations

S5022 - Details

See Assembly Version of this Bill:
Law Section:
Versions Introduced in 2013-2014 Legislative Session:

S5022 - Summary

Authorizes the city of Middletown to enter into a contract to use delinquent tax liens as collateral for a loan.

S5022 - Sponsor Memo

S5022 - Bill Text download pdf

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


                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               May 6, 2013

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to authorize the city of Middletown to enter into a  contract  to
  sell  or pledge as collateral for a loan some or all of the delinquent
  liens held by such city to a private party or engage a  private  party
  to collect some or all of the delinquent tax liens held by it


  Section 1. Notwithstanding any provision of any  general,  special  or
local  law  to  the  contrary,  the  city of Middletown may enter into a
contract to sell some or all of the delinquent tax liens held by it to a
private party, subject to the following conditions:
  (a) The consideration to be paid for a  sale  of  the  delinquent  tax
liens  held  by  it  may be more or less than the face amount of the tax
liens sold.
  (b) Property owners shall be given at least 30 days advance notice  of
sale  in  the  same  form  and manner as is provided by subdivision 2 of
section 1190 of the real property  tax  law.  Failure  to  provide  such
notice  or the failure of the addressee to receive the same shall not in
any way affect the validity of any sale of a tax lien or  tax  liens  or
the  validity  of  the  taxes or interest prescribed by law with respect
  (c) The city of Middletown shall set the terms and conditions  of  the
contract of sale or loan.
  (d)  The  tax lien purchaser must 30 days prior to the commencement of
any foreclosure action provide to the city of Middletown a list of liens
to be foreclosed. The city of Middletown may, at  its  sole  option  and
discretion,  repurchase a lien or liens on the foreclosure list from the
tax lien purchaser. The repurchase price shall be the amount of the lien
or liens plus any accrued interest and collection fees incurred  by  the

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


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