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

                                  4956

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 9, 2015
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Ways and Means

AN ACT to amend the tax law, in relation to extending the expiration  of
  the mortgage recording tax imposed by the city of Yonkers

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

  Section 1. Subdivision 1 of section 253-d of the tax law,  as  amended
by chapter 76 of the laws of 2013, is amended to read as follows:
  1.  The city of Yonkers, acting through its local legislative body, is
hereby authorized and empowered to adopt and amend local  laws  imposing
in  any  such city during the period beginning September first, nineteen
hundred  ninety-three  and  ending  August  thirty-first,  two  thousand
[fifteen]  SEVENTEEN,  a tax of fifty cents for each one hundred dollars
and each remaining major fraction thereof of  principal  debt  or  obli-
gation  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  city and recorded on or after the date
upon which such tax takes effect and a tax of fifty cents on such  mort-
gage  if the principal debt or obligation which is or by any contingency
may be secured by such mortgage is less than one hundred dollars.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08953-01-5